Economy, Jobs & Taxes

Our country's strength and success is based on our robust middle class. These days, too many American families feel that the American Dream is slipping away – they are worried about finding good jobs, sending their kids to college, losing the equity in their homes, and even foreclosure. Rebuilding the American Dream so that every individual has access to opportunity and success is a challenge, but not an impossible one. The Great Recession and the current federal budget problems were no accident; they were the result of decades of policies that further enriched the wealthy at the expense of everyone else, as well as Bush Administration policies that put wars and tax cuts for the rich on a credit card and turned a blind eye to Wall Street’s recklessness.  By creating the perfect storm, these man-made mistakes led to a devastating financial collapse.

But we are not helpless in the face of these challenges. I am fighting for job creation, economic opportunity for all, help for those who are struggling, and fair and responsible ways to reduce the deficit.

In Congress, I am a leader on progressive solutions to our economic and fiscal challenges and I have offered specific proposals on deficit reduction, jobs, and tax policy. I served on the National Commission on Fiscal Responsibility and Reform (the Bowles-Simpson Commission), and offered an alternative to the co-Chair's proposal to show what a real balanced plan would look like - one that didn't further burden struggling middle class and low income families.

We also need to make sure that people are employed in good jobs that provide them with a living wage and benefits so that workers can take care of their families.

 

 

More on Economy, Jobs & Taxes

September 9, 2014 Press Release

Washington, D.C. – “Yesterday, Home Depot confirmed that its customers are the victims of what may be the largest data breach of a retailer in history.  Reportedly, in an attack that went unnoticed by the company for five months, more than 60 million credit and debit card numbers and associated pieces of personal information were stolen from Home Depot stores by hackers – similar to the 2013 breaches of Target and other major retailers.  Worse still, Home Depot did not notify its customers or make any public statement until contacted about the breach by a journalist. 

August 29, 2014 Press Release

CHICAGO – “This Labor Day, we will take time to recognize the enormous contributions that working men and women make to our nation.  Our economic strength comes from their hard work, productivity and skills.

Yet American workers deserve more than recognition – they deserve a raise.  Between 1979 and 2013, productivity grew by 64.9 percent but hourly wages rose just 8 percent.  Wages have not kept pace with productivity and they have certainly not kept pace with increases in food, gasoline and other basic goods.

August 6, 2014 Press Release

CHICAGO – Today, Walgreens announced that it would purchase the remaining 55 percent of Swiss-based pharmacy Alliance Boots GmbH, combining two of the world’s largest pharmacy retailers.  The combined company elected not to perform a corporate inversion – which would have relocated the company headquarters overseas in order to reduce its tax liability – and instead to remain in Illinois.  Rep. Jan Schakowsky released the following statement on the merger:

August 1, 2014 Press Release

Washington, D.C.– Rep. Jan Schakowsky introduced H.R. 5372, the Patriot Employer Tax Credit Act on Thursday. The legislation provides tax credits to companies that invest in American workers instead of rewarding companies that ship jobs overseas. Reps. Raul Grijalva, Robin Kelly, and Barbara Lee joined as cosponsors of the bill. Senator Dick Durbin introduced the bill in the Senate.

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