Cory Booker Discusses tax credit plan during Iowa Trip

Democratic presidential candidate Cory Booker on Monday signaled a substantial expansion of the earned income tax credit he said would lower the tax bill for almost half of taxpayers.

The senator from New Jersey, that recently established a nationwide tour aimed at boosting his 2020 presidential bid, touted the plan in a campaign event in Iowa as generating an tax code”that reflects our values.” His announcement came to the date that Americans’ taxes are the result of the IRS.

“Why should someone who works for a hedge fund in new york, who earns a thousand dollars a year, pay less taxes than that schoolteacher?” The audience was asked by him in his Sioux City event.

Booker would cover his tax credit that is expanded by taxing capital gains earnings at precisely the same rate as income. His effort, mentioning the nonpartisan Tax Policy Center, jobs the coverage would profit 154 million Americans.

Booker indicated the market would be boosted by his tax policy.

“We are a consumption-based culture. Giving tax credits directly to the men and women who spend the most in our society actually will grow our market,” he said.

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Schor contributed to this report from Washington.