Why I’m Voting Yes Today for the Inflation Reduction Act

  • Establishing a minimum 15 percent corporate minimum tax on domestic companies, ensuring that small businesses in Maine aren’t put at a competitive disadvantage to massive companies like Amazon, Apple, and others who pay next to nothing in taxes year after year.
  • Cracking down on corporations funneling their profits back to wealthy investors rather than into wages, research and development, or capital improvements by creating a one percent excise tax on corporate stock buybacks. Stock buybacks are on course to set new records in 2022.
  • Increasing resources so that the Internal Revenue Service (IRS) can go after very wealthy Americans who too often use expensive accountants and lawyers to help them cheat the system and underpay their taxes with no consequences. The Treasury Department has already instructed the IRS not to use any of these new resources to increase the audit rates on households and small businesses with incomes under $400,00/year, and the current IRS commissioner (a Trump appointee) has assured Congress that its intentions are similarly aligned. These investments will go a long way toward modernizing IRS infrastructure and ensuring we have the ability to force the richest Americans and billionaire corporations to pay their fair share by enforcing the tax code we already have.

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Congressman Jared Golden

Congressman Jared Golden

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Jared Golden represents Maine’s 2nd District in the U.S. Congress. He serves on the House Small Business Committee and the House Armed Services Committee.