Senator Joe Kyrillos : Raising Revenue the Smart Way: Lowering Taxes
Let’s be clear: there’s a big difference between increasing revenue by raising taxes and increasing revenue from lowering taxes while closing special interest loopholes. Raising tax rates continues to be Bob Menendez’ solution, but after voting in favor of higher taxes more than 70 times it has yielded nothing but higher unemployment and crushing debt placed squarely on the shoulders of small businesses and middle class families. Throughout my career, I have never voted for a broad-based tax increase, and in fact have saved New Jerseyans $11.9 billion in new or higher taxes.
My position continues to be what I outlined in my comprehensive jobs plan – cut income tax rates for every family and small business, reduce our job-killing corporate tax and close the special interest tax loopholes favored by Bob Menendez’ lobbyist pals, including management fees that get treated as capital gains rather than personal income. A simpler, more efficient tax code will reward hard work, boost job creation, and raise revenue by growing the economy.