Darren White believes the best way to kick-start the economy is to create a tax policy that provides relief to the middle class, while strengthening our workforce and keeping our economy strong. 

White has signed the Americans for Tax Reform “No New Taxes” pledge and supports ideas from both sides of the aisle for lowering taxes and simplifying the process.  Key proposals White will fight for in Congress include:

1)  Create the “Simple Return” to shift the burden of preparing tax returns to the IRS.

Streamline the process for filing taxes by giving taxpayers the option of verifying pre-filled tax forms based on information the IRS has already collected from banks and employers.  This will allow nearly 40% of Americans to complete their tax returns in 5 minutes.  It will save $2 billion in tax preparation fees and countless hours of aggravation.

2)  Increase the per child tax credit from $1000 to $1250.

In these tough economic times, we’re all struggling. But families are hit especially hard, as they are paying more for gas and groceries. For example, food prices rose 4% last year compared to 2.5% the year before.  It is anticipated that the increase will be 4.5 % this year.  That’s why increasing the per-child tax credit from $1,000 to $1,250 makes so much sense and why Darren White supports it.

3)  Provide every American a tax benefit who purchases their own health insurance, and offer small businesses tax credits if they offer health benefits to employees.

It is unacceptable that we have 44 million uninsured Americans, many of them children.  In 2005, we spent $2 trillion on health care, which is 16 percent of the GDP and $6,697 per person.  In 1970, total health care spending was $75 billion, or only about $356 per person.  Increasing health care costs are a major financial burden to families.  Tax incentives that lead to more Americans being covered with health insurance easily pay for themselves in cost savings.

4)  Make permanent the Internet tax moratorium.

In a global economy, the Internet is critical to our competitiveness. That’s why it’s so important that we not stifle economic growth online by imposing new taxes. White strongly support making permanent the Internet tax moratorium.

5)  Cut Business Tax rate from the current rate of 35% to 25%.

This tax rate is the 2nd highest in the world and forcing jobs overseas.

We are in a global economy. As our trade partners lower their tax rates, it becomes easier to create jobs overseas than it does in America. We need to lower our business tax rate to help stop the flow of American jobs going overseas.

6)  Eliminate the Alternative Minimum Tax (AMT) on the middle class.

The AMT was originally intended to target 155 high-income earners in 1970. Today, it hits 25 million middle-class families. Permanently eliminating this tax would save the average family $2,700 per year in taxes. 

7)  Make permanent and strengthen the Research and Development Tax Credit

Make permanent the Research and Development tax credit.  It will stimulate short-term business investment and create long-term benefits to our economy in New Mexico. Making the credit permanent will allow businesses to make long-term research planning decisions.  In fact, among nations with a tax incentive for R&D, the United States now provides one of the weakest incentives, below our neighbors Canada and Mexico, and behind many Asian and European nations.

8)  Oppose 50-cent a gallon gas tax proposal in Washington.

A 50-cent increase per gallon federal gas tax hike has been proposed by Energy & Commerce Chairman John Dingell.  Potentially tripling our gas tax and further driving up the cost that consumers pay at the pump is wholly irresponsible, and in Congress, White will fight fervently against tax increases like this, which hits working New Mexicans the hardest.

9)  Require a 3/5ths majority in Congress to raise taxes.

Higher taxes kill jobs and hurts families. That’s why we need to make it more difficult for politicians to take our money. It currently takes a 3/5ths majority in the US Senate to move legislation. It should be just as hard to raise taxes and that’s why White supports requiring a 3/5ths majority in Congress to tax hikes.

10)  Block the largest tax increase in history on working families and small business: 683 Billion Dollars

With our economy struggling, the last thing we needs is Washington to take more of our money to feed their wasteful spending.  The current plan in Congress will raise taxes by 683 billion dollars, or $2,345 for the average family in New Mexico.  Now more than ever, we should do everything we can to help working families make ends meet, by allowing them to keep more of their hard earned money.  This reckless tax hike will cost thousands of jobs and stifle growth.