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John Hickenlooper on Tax Reform

Democratic Presidential Challenger (withdrew, Aug. 2019); CO Governor

 


Higher taxes on the wealthy; lower taxes on working families

Like most of his fellow Democrats, former Gov. John Hickenlooper would push for higher taxes on wealthy Americans and lower taxes on working families. For instance, he's open to raising the top individual income tax rate--which is currently set at 37%--but he has not said how high the top rate should go. (As one of the more moderate candidates in the race, he probably wouldn't back rates as high as other candidates have suggested.) He also supports expanding the earned income tax credit by doubling the credit for households with children, raising the maximum benefit for families that don't have children living at home, reducing the minimum qualifying age for taxpayers without children in their home from 25 to 21 and increasing the credit's income limit.

He supports a carbon tax where to proceeds are passed back to citizens to help pay for increased energy costs.

Source: Rocky Mengle, finance.yahoo.com, on 2019 Democratic primary , Aug 12, 2019

Mom-and-pop tax credit for five or fewer full-time employees

The former governor of Colorado is also pushing a few tax breaks designed to help rural communities. First, there's a new "mom and pop" tax credit for the owners of businesses with five or fewer full-time employees and annual revenues of less than $10 million. These owners would be allowed up to $50,000 in lifetime credits for new business investments or employment. Second, the governor is calling for a new Entrepreneurial Opportunity Zone Program, which would provide tax deductions for both new businesses and workers at new businesses in rural and distressed areas. The deductions would be available for five years. Finally, his plan to help rural America includes increased funding for the federal historic tax credit to boost investment in the renovation of historic buildings.
Source: Rocky Mengle, finance.yahoo.com, on 2019 Democratic primary , Aug 12, 2019

$5 trillion of tax cuts to the wealthy is not the answer

Q: Governor Hickenlooper--what tips the scales in your state and in this election?

A: When you look at the mess that President Obama inherited--losing 800,000 jobs a month--in the first few months of his presidency, he's turned that around. He's got 32 straight months of job creation, 5.2 million jobs, the national export initiative in the first two years, exports were up 38%. I think people are going to hear that and I think they are also going to recognize that Governor Romney's plan of adding $2 trillion to military spending and at the same time promising $5 trillion of tax cuts largely skewed to the wealthier parts of the population without any specifics, right? I mean, what are those deductions and tax credits he's going to get rid of? Are we going to lose the home mortgage deduction? Are we going to lose the deduction from giving to philanthropic organizations like churches that are in many cases our best partners at fighting poverty?

Source: Meet the Press interview on 2014 Colorado governor race , Oct 28, 2012

Other candidates on Tax Reform: John Hickenlooper on other issues:
CO Gubernatorial:
Bob Beauprez
Cary Kennedy
Cynthia Coffman
Donna Lynne
Doug Robinson
Ed Perlmutter
George Brauchler
Jared Polis
Matthew Hess
Michael Bennet
Mike Johnston
Steve Barlock
Tom Tancredo
Victor Mitchell
Walker Stapleton
CO Senatorial:
Alice Madden
Andrew Romanoff
Angela Williams
Cory Gardner
Dan Baer
Darryl Glenn
Ellen Burnes
John Walsh
Jon Keyser
Michael Bennet
Mike Johnston
Peg Littleton
Ryan Frazier
Tim Neville

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AK: Sullivan(R,incumbent) vs.Gross(I)
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AR: Cotton(R,incumbent) vs.Mahony(D) vs.Whitfield(I) vs.Harrington(L)
AZ: McSally(R,incumbent) vs.Kelly(D)
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Page last updated: Apr 29, 2020