Helping Families Thrive

Tying into affordability is our tax code. Several changes can be made to increase the amount of money working families have.  

Currently, even people making less than the poverty level wages still pay state income taxes. We need to exempt the first $14,000 of income from state income taxes for an individual, and $20,000 for families. To maintain current revenues, other rates can be structured so that households under $80,000 see a tax cut, those making between  $80,000 and $250,000 pay the same, and those over $250,000 see an increase.  Additionally, we need to reimpose an inheritance tax on estates worth over 4 million dollars (this will exclude the vast majority of family farms).  

We need to increase the earned income tax credit (EITC) at the state level and make it available for those without children.  A child tax credit should be put in place and paid out monthly, as was done at the federal level during the pandemic. This was very successful at reducing childhood poverty.  

For many working families, the bulk of their tax payments comes in the form of property tax and sales tax. We need to reduce the sales tax rate and eliminate sales taxes on all grocery items except tobacco and alcohol.   

Property taxes have been increasing, as we’ve seen with the staggering growth of referendums on ballots to provide more local funding for schools. This can be remedied by revamping our school funding formula at the state level, providing more consistent nd increased support,t and lessening the need for higher property taxes.  

Corporate tax rates should be lowered for small businesses.  

Taken together, these measures would save low-income and working families anywhere from $500 up to thousands of dollars a year.