Tariffs & Taxes

I strongly believe in free trade over tariffs, which ultimately unduly burden low-income consumers. Given our complex economy, tariffs are not a sustainable revenue source. A graduated income tax is far more equitable than a flat tax. However, our current tax system needs a fundamental overhaul to ensure fairness and promote economic growth.

To achieve this, I propose:

 * A Non-Partisan Tax Reform Commission: The President will appoint a leader to form a non-partisan commission. This commission will conduct a thorough review of all tax credits, deductions, and loopholes, focusing on equitable tax burdens for individuals and businesses.

 * Balancing Fairness and Economic Growth: The commission will analyze the impact of the tax system on business innovation and investment, aiming to avoid undue burdens that could harm the economy.

 * Deficit Reduction and National Priorities: Tax reform should aim to balance the federal deficit with economic productivity, preventing future generations from inheriting unsustainable debt. Crucially, the commission will evaluate tax credits, deductions, and loopholes in relation to current government priorities, such as climate action and affordable housing initiatives.

 * Data-Driven Decisions: All recommendations will be based on sound economic data and projections.

 * Limited Strategic Tariff Use: While generally favoring free trade, the commission will explore limited strategic uses of tariffs, such as in trade negotiations or to protect key industries, always considering the impact on consumers.

 * Two-Year Term and Comprehensive Report: The commission will have a two-year term. They will then present a revised tax plan to the President and Congress, accompanied by detailed national economic impact and government revenue projections.

By implementing these measures, we can create a tax system that is fair, efficient, and supports a strong, sustainable economy, aligned with our national priorities.