“ Our tax policy going forward should be simple - protect and grow tax cuts for the middle class, and ask that the very, very wealthy pay a little more to help pay down the deficit. And our spending policy should follow another simple rule - invest in those areas that create jobs, like education, infrastructure, and science, and make reasonable cuts in other accounts. That means letting some of the Bush tax cuts expire for high income earners, while also targeting wasteful spending programs at federal agencies. Too many in Washington aren't willing to bridge the partisan divide to craft a grand bargain that will do both, and do so fairly. I have spent my entire career reaching across the aisle to find common ground. As the Chairman of the Congressional Center Aisle Caucus, a bipartisan committee of about 40 members who are working to restore civility in Congress, I've led by example when it comes to bringing people together on tough issues like taxing and spending. It's that kind of ability to work across the aisle that will get us a compromise on deficit reduction that will propel America's economy forward. ”

“ Solving America’s budget deficit will take a combination of tax increases and budget cuts. We need a tax code that works for the middle class and not for corporate special interests. We can make the tax code work for the middle class by 1.) ending corporate welfare by eliminating all special interest tax breaks and the hedge fund loophole that allows speculators to pay a lower tax rate than the middle class, 2.) end the Bush tax cuts for the Wealthy, and 3.) fix the alternative minimum tax which makes many middle class families pay a higher tax rate than the wealthiest Americans.
The Middle Class should be able to keep their tax cuts.
To cut the budget we should look at defense spending. We currently have a defense posture that ensures we are successful for Cold War threats as opposed to current threats. While America needs to continue funding our fight against terrorism, we should immediately bring our troops home from Iraq and Afghanistan, and many of our forces from Europe and Japan. Doing so will allow us to reduce the defense budget and align our military posture to the real needs of the 21st century. We can replace much of our worldwide capacity to project power and protect our interests abroad through increased naval strength, and realize savings from bringing our troops home.
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