Too many Americans feel that, when it comes to economic policy, the interests of Wall Street and the multi-national corporations take priority over the needs of working people. Rather than chasing bad trade deals like the Trans Pacific Partnership (TPP) and giving more tax breaks to big business, it’s time for Congress to enact legislation that will create jobs here in America and will provide real support and opportunity for working families.
Government By the People Act (H.R. 20)
- Creates a new system for funding campaigns that empowers small donors to compete with the Wall Street insiders, ensuring that the interests of everyday Americans take priority in Washington.
Inclusive Prosperity Act (H.R. 1464)
- Imposes a small fee on Wall Street transactions (half a percent on stocks, 1/10th a percent on bonds, and 5/1000ths percent on derivatives), which will raise billions of dollars that can go towards infrastructure and other job-creating initiatives.
Stop Tax Haven Abuse Act (H.R. 297) & Carried Interest Fairness Act (H.R. 2889)
- The first of these bills shuts down accounting tricks -- such as so-called “inversions” – that big corporations use to steer profits and jobs off-shore to other countries. The second eliminates the “carried interest” loophole that allows hedge fund managers to avoid paying the ordinary income tax rate that is paid by other Americans.
Earned Income Tax Credit Improvement and Simplification Act (H.R. 902) & Child Tax Credit Permanency Act (H.R. 1286)
- These bills extend and strengthen important tax credits that provide financial assistance to millions of working Americans who are struggling to make ends meet.
Raise the Wage Act (H.R. 2150)
- Raises the federal minimum wage to $12 per hour by the year 2020, which would increase the wages of 35 million Americans, 50% of whom have annual family income of less than $40,000.
National Infrastructure Development Bank Act (H.R. 3337)
- Creates a financing vehicle to help rebuild our bridges, tunnels, roads, schools and other infrastructure across the country and in the process create millions of new jobs.
FOR Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R. 4173) (Became Law 2010)
- In response to the great recession of 2008, strengthened standards and supervision governing large financial institutions, ended tax-payer bailouts, created new rules on executive compensation and corporate governance, and established the Consumer Financial Protection Bureau.
AGAINST Trade Act of 2015 (Fast Track) (H.R. 1314)
- Gave too much authority to the President to negotiate trade deals unilaterally without giving Congress the opportunity to make changes on behalf of American workers and small businesses.
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Congressman John Sarbanes has been endorsed by AFL-CIO and has received 100% scores from AFL-CIO & NARFE.