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“I rise to oppose this deeply flawed budget that is bad for America and especially harmful to working families,” said Ranking Member Heinrich. “The Republican plan we face today is a budget-busting first step toward issuing massive tax breaks to special interests and wealthy individuals. This proposed budget fails to improve economic growth or to drive up wages.”
As we continue to celebrate Hispanic Heritage Month, Joint Economic Committee Democrats and the Congressional Hispanic Caucus today released a fact sheet on the “Economic State of the Latino Community in America.” The fact sheet outlines the latest statistics on the economic well-being of the nation’s Latino community, including population, employment, and earnings statistics, and other key indicators.
Heinrich currently serves as a member of the Senate Joint Economic Committee. He argues that 40 million households will see their taxes increase because the plan threatens to eliminate what are known as state and local tax (SALT) deductions. SALT deductions allow taxpayers who itemize to deduct some of their local taxes on their federal taxes.
Sen. Martin Heinrich (D-N.M.), ranking member of the Joint Economic Committee, said that the "job numbers underscore the gravity of the task at hand — to rebuild families’ lost homes, businesses, and communities in the wake of the devastating hurricanes."
Today’s job numbers underscore the gravity of the task at hand—to rebuild families’ lost homes, businesses, and communities in the wake of the devastating hurricanes that have affected Americans across the South, Southeast, Virgin Islands and Puerto Rico. America needs to rebuild, and now is the time to invest in a comprehensive infrastructure plan that will create good-paying jobs and promote economic growth. We also need leadership to address the dire effects of climate change.
For the past five years, the Deferred Action for Childhood Arrivals (DACA) program has allowed some of the brightest young people in our communities to pursue their dreams and deliver significant benefits to the U.S. economy. Thanks to the contributions of DACA recipients — sometimes called Dreamers — our economy is stronger, we have more businesses, and our tax base is larger.
U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at today’s hearing entitled “The Startup Slump: Can Tax Reform Help Revive Entrepreneurship?” Ranking Member Heinrich highlighted in his opening remarks that the Republican tax reform proposal overwhelmingly benefits the wealthiest individuals and corporations, not entrepreneurs or small businesses.