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Tim Kaine vice presidential campaign, 2016/Taxes

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Tim Kaine
Democratic vice presidential nominee
Running mate: Hillary Clinton
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See what Tim Kaine and the 2016 Democratic Party Platform said about taxes below.

CANDIDATE SUMMARY
  • Kaine supported simplifying the tax code to make it fairer and more efficient.
  • He said the tax code should be pro-growth, make the U.S. globally competitive, and produce sufficient revenue to support a smart federal budget and help the U.S. deal with long-term fiscal issues.

    • Democratic Party Kaine on taxes

    • In July 2013, Kaine sent a letter to the Senate Finance Committee, laying out his priorities for comprehensive tax reform. Writing the letter, Kaine drew upon his own experience working for his father's small business, serving as managing director of a law firm, and tackling tax and economic issues as Richmond's mayor and Virginia's governor. He also asked Virginia stakeholders for their recommendations for making the tax code fairer and more efficient. Kaine wrote, “We need a tax code that is simpler and more predictable. The code should be pro-growth and make us globally competitive. It needs to produce sufficient revenue to support a smart federal budget and help America deal with a long-term fiscal imbalance.” Kaine continued, “I strongly believe that the recently passed Senate Budget offers an excellent template for tax reform.” He also wrote, "The Senate Budget promotes economic growth, stabilizes the debt trajectory, and achieves credible deficit reduction in accord with recommendations made by numerous economists and commissions, including Simpson/Bowles and Domenici/Rivlin. Congress has made some progress in reducing spending and raising revenue, and deficit projections are declining as a result. But there is more to do.”[1]
    • Running for the U.S. Senate in 2012, Kaine supported keeping tax rates the same for those earning less than $500,000 a year while allowing Bush-era tax cuts to expire for those with incomes over $500,000.[2]
    • During a debate on September 20, 2012, with George Allen, his Republican challenger in the Senate race, Kaine said he would be open to a proposed minimum federal income tax, but did not express support for raising taxes for everyone. According to Kaine for Virginia Communications Director Brandi Hoffine, Kaine cut taxes for Virginians with the lowest incomes while governor of the commonwealth.[3]
    • In December 2009, during his last full month as governor of Virginia, Kaine proposed raising state income tax rates for all tax brackets by 1 percentage point to generate $1.9 billion to combat the effects of the Great Recession on the state's economy. The proposal also called for eliminating the state's personal property tax on vehicles, which would save Virginia taxpayers $650 million and result in an annual tax increase of $1.25 billion. The proposal was defeated shortly after Kaine left office.[4]

    Recent news

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    See also

    Footnotes

    1. ↑ Tim Kaine United States Senator for Virginia, "Kaine Lays Out Priorities for Comprehensive Tax Reform in Letter to Finance Committee," July 31, 2013
    2. ↑ Time, "What Clinton’s Choice of Tim Kaine Means for Your Money," July 22,2016
    3. ↑ Augusta Free Press, "Allen TV ad hits Kaine on debunked tax claim," September 25, 2012
    4. ↑ 4.0 4.1 Politifact Virginia, "Donald Trump says Tim Kaine proposed $4 billion tax increase during first week as governor," July 28, 2016
    5. ↑ FactCheck.org, "Kaine vs. Pence on Unemployment," August 5, 2016
    6. ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
    7. ↑ Democratic Party, "The 2016 Democratic Party Platform," accessed August 23, 2016
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