Ben Cullop outlines tax principles aimed at reinvesting in the middle class
“The special-interest backed tax plan rammed through this Republican Congress was a real missed opportunity to invest in small businesses and the middle class, and I think the 5th District deserves better,” Cullop said. “In Congress, I will fight every day to pass real tax reform that puts more money in the pockets of 5th District residents and fosters real job and wage growth. It’s the right thing to do morally and economically.”
The tax process was broken from the start, ending with lobbyists knowing about the bill’s amendments before lawmakers. An analysis of the Republican plan shows that 83% of the benefits from the tax plan go to the top 1% of earners. In addition, a recent report from The New York Times showed the plan is helping company shareholders more than everyday Americans. Now, Republicans are targeting Medicare, Medicaid, and Social Security to pay for their handouts.
Instead, Cullop wants to focus on middle class and small business tax cuts that will actually drive growth in the economy.
“We have to get big corporate special interests out of the tax-writing process,” Cullop added. “We need to make sure the people who are the drivers of the economy – the middle class – have more money in their pockets to create demand, and therefore create jobs.”
Cullop’s tax principles are:
Put the middle class first – Ben will focus on closing loopholes for hedge funds, real estate passthroughs, stadium construction and new estate tax breaks and shift those cuts to the middle class.
End the tax on filing your taxes – The IRS has the data and the resources to file your taxes for you, so why should Americans have to pay to do it? In Congress, Ben would support legislation that has the IRS automatically pre-populate your tax return, give you the right to download your own data, and make it illegal for the IRS to charge for the service.
Make the tax code simpler and fairer for small businesses – Ben will push to end tax shelters, loopholes, and regulations that simply leave small business to pay big business’ tabs, while fighting for size exemptions that level the playing field for small businesses.
Push for a living-wage tax credit – Ben will push for a Living Wage Tax Credit for small and medium-sized businesses that increase wages for their employees from around the minimum wage up to a living wage.
The rollout of the principles comes approximately six weeks before Americans file their taxes. The full version of the principles can be found here.
About Ben Cullop
Ben Cullop is a fourth-generation Virginian who received his undergraduate degree and MBA from the University of Virginia. He built a successful career investing in communities and businesses across Virginia. He serves his community as a member of the advisory board of the UVA Children’s Hospital, the Albemarle County Police Foundation Board, and previously, the Charlottesville Retirement Commission. Ben lives in Albemarle County with his wife, Ashley, and their two young children.
For more information on Ben Cullop and updates on the campaign, please visit www.CullopForCongress.com, or follow him on social media by following @Cullop4Congress on Twitter and liking his Facebook page.