Schakowsky Reaction to the President's State of the Union Address

Washington, DC -- “The President’s focus on the middle class and his proposals to address income inequality resonated with me and, according to immediate focus groups and polling, with the American people as well.

He set the tone from the start asking: “Will we accept an economy where only a few of us do spectacularly well? Or will we commit ourselves to an economy that generates rising incomes and chances for everyone who makes the effort?”

The Republicans sat, as if superglued to their seats, as the President gave one example after another of the dramatic improvements in the economy. He went off script to remind them, “This is good news, people.”

And they didn’t budge when President Obama offered concrete proposals that are wildly popular with everyday Americans: tax cuts of $3000 per child for child care, two years of community college free, infrastructure investments, and eliminating the trust fund loophole for the very rich that will pay for these supports for the middle class and those who aspire to it.

Last week I introduced the Fairness in Taxation Act, a measure in line with the President’s proposals. It would add five new tax brackets on incomes between $1 million and $1 billion. There are 7 brackets now, but they end at $400,000 in annual earned income, meaning that whether you earn $400,000 or $400,000,000, you pay the same rate. This much needed update of our tax code would make funds available for much needed investments.”