WASHINGTON, D.C. – Today, U.S. Senator Angus King (I-Maine), a member of the U.S. Senate Committee on Budget, released the following statement in response to the tax plan revealed today by the Trump administration:

“My approach on taxes is simple: we don’t need to increase the already too-heavy burden on middle class families but, at the same time, we can’t tax our companies so much that they close up shop and move overseas, taking jobs away from already strapped working families. I’m hopeful that as this plan makes its way through Congress, we can work together on bipartisan ideas to reform the tax code – and consider bipartisan ideas that encourage growth, reduce burdens on the middle class, and don’t add to the deficit – because, after all isn’t a ballooning deficit just a tax burden we’re passing on to our kids?  

“One simple idea I’ve been working on with Senator Richard Burr, a Republican from North Carolina, is an update to the Child and Dependent Care Tax Credit. It makes it easier for working families who are taking care of their aging parents or young children to qualify for a more generous tax credit that helps pay for the cost of quality care. In effect, it encourages qualified employees to seek fulltime employment and keeps good people at hard to fill jobs – not to mention that, if we do it right, it won’t add a penny to the deficit.

“As Democrats, Republicans and Independents come to the table to consider updating the tax code, we will not always agree, but helping hardworking families pay for the cost of care – what’s more pro-American tax reform than that?”

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