Since launching this campaign, the number one issue I hear from voters, at listening tours, town halls, and community events is affordability.
But affordability means different things to different people and communities. For some, it’s the rising cost of homeownership, from fire insurance to necessary repairs. For others, it’s the burden of high rent and the feeling that the dream of owning a home is slipping further out of reach. We’ve all watched healthcare costs rise year after year, while the price of everyday essentials, groceries, utilities, and gas, continues to climb. At the same time, good-paying jobs are harder to find, and commute times are getting longer.
It’s time for a realignment of our economy, one that puts more money back into the pockets of working people, ensures the wealthiest Americans pay their fair share, and invests in our shared future.
Solutions are within reach. We can eliminate the income cap on Social Security taxes and make the first $50,000 of income tax-free. This would put more money directly into workers’ paychecks:
- An effective 6% raise for most workers
- A $3,000 annual increase for someone earning $50,000
- More money in every paycheck, not just at tax time
At the same time, this approach would strengthen and preserve Social Security for future generations.
We must also reform the tax code to reflect how wealthiest Americans accumulate their wealth. That means updating how long-term capital gains are taxed and closing loopholes such as the use of margin loans that allow the wealthiest Americans to avoid paying what they owe.
We should pair student loan relief with strong investments in trade schools and apprenticeship programs, while expanding job creation nationwide. We must raise the minimum wage and index it to the median wage, so no one in this country has to work more than 40 hours a week just to make ends meet. Reduce red tape to build more housing and expand, not reduce, the subsidies in the ACA.
We can build a fairer, stronger economy, but only if we send leaders to Washington who are committed to working families and not beholden to corporate interests.