IL-14: Jerry Evans Releases Position Paper on Taxes

Jerry Evans (r)

From the Jerry Evans for Congress Campaign:

Jerry Evans – Small Business and Middle Class Tax Cuts

“As a small business owner, I understand the burdens that the current tax rates have on the ability to turn a profit, which is why I’m announcing my tax agenda to implement within President Trump’s tax cut 2.0 agenda.”

Lower the Middle Class Tax Bracket: We need additional tax cuts for the middle class. I would introduce legislation that lowers the middle class tax bracket to 15 percent. Under the current system, middle class taxpayers who make between $39,476 and $84,200 pay a federal tax rate of 22 percent. By lowering the middle class tax bracket to 15 percent, taxpayers who make $84,000 a year will see a decrease in their federal taxes of $5,880 a year. A 15 percent tax rate would give many middle class Americans nearly an additional $500 in monthly income. Additionally, I’d apply the same 15 percent tax rate for middle class joint-filing taxpayers. 

Increase the State and Local Tax Deduction: Under JB Pritzker and Mike Madigan, Illinois has become one of the highest taxed states in the nation. For this reason, I would increase the state and local tax (SALT) deduction cap by $2,500, which would bring the cap to $12,500. While this increase is marginal, I believe this change can be accomplished with bipartisan support in order to grant relief to middle class taxpayers. 

Make the 2017 Tax Cuts for Families Permanent: One significant issue with the Tax Cuts and Jobs Act is that the tax cuts which benefit individuals and families expire by 2025. Several important cuts are set to expire: the $2,000 child tax credit, home interest deductions, increased standard deductions, and itemized medical expense deductions. While Democrats want to increase taxes that throttle our economy, I strongly support the permanency of these deductions that grant longstanding benefits for families. 

Tax Cuts for Small Business: In 2017 President Trump reduced the business tax rate to 21 percent. I’d like to take a step forward for small businesses, LLC’s, and C Corps that operate under $1,750,000 in gross income, by introducing a 17 percent tax rate. The current tax rate of 21 percent is a flat rate for all corporations, but I believe we must do better for small businesses. 

Balance the Federal Budget: The current Congress has put a lock on President Trump’s goal to balance the Federal budget and lower the deficit. As a businessman, I understand that we cannot keep running our country with a deficit. There are zero functioning businesses in American that operate at a loss year in and year out and the Federal budget must be balanced. My experience as a businessman gives me the practical understanding needed to fix our debt crisis and I would support a constitutional amendment that mandates Congress pass a balanced budget.


IL-14: Jerry Evans Releases Position Paper on Taxes — 2 Comments

  1. Evans position paper on Taxes?

    How about his position on Texas?

    The state which really benefits from the GOP cap on property tax deductions which made Illinois big ticket homes even harder to sell.

  2. Texas has no income tax and they still have lower property taxes than we do.

    This was true before and after Trump’s tax cut.

    Maybe it’s time to admit Illinois’ problems are bigger than Trump.

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