Bobby Jindal presidential campaign, 2016/Taxes
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 Bobby Jindal |
Governor of Louisiana (2008-2016) U.S. House of Representatives (2003-2007) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- During the undercard of the third Republican debate, held October 28, 2015, Bobby Jindal said he would eliminate the corporate tax. Jindal said, "We do have the highest corporate tax rate in the developed world. I'd get rid of it. I'd get rid of all the corporate welfare. Make the CEOs pay their same tax rates the way the rest of us do."[2]
- Jindal wrote an op-ed in Forbes on October 8, 2015, to promote his new tax platform. Under Jindal’s proposed tax plan, there would be three personal tax brackets: 2 percent, 10 percent and 25 percent. Jindal would also eliminate corporate income tax, the estate tax, the gift tax, the alternative minimum tax and the “marriage penalty.”[3][4]
- Jindal, who has been governor of Louisiana since 2008, has touted his record as a tax cutter, which includes a more than a $1 billion reduction over five years, the largest tax cut in Louisiana history.[5] [6][7] In the 2016 budget signed into law June 19, 2015, Jindal and the legislature raised revenue to close a budget shortfall, in part, by rolling back tax breaks for businesses, and raising taxes on cigarettes. Louisiana is among the states that legally requires its lawmakers to propose and pass a balanced budget.[8] The proposal to claw back the tax breaks for businesses ran afoul of some Louisiana conservatives because Jindal sought out the blessing of anti-tax crusader Grover Norquist to make sure it complied with his pledge -- signed by many Republicans, including Jindal -- not to raise taxes. [9] [10] [11]
- In 2014, the Cato Institute, a libertarian think tank, gave Jindal a fiscal policy grade of "B." According to the report, "Governor Jindal proposed a dramatic tax overhaul in 2013, which would have eliminated personal and corporate income taxes in exchange for increasing the sales tax rate and broadening the sales tax base. The overall plan was revenue neutral, but would have simplified the tax system and encouraged economic growth. Unfortunately, he had to put the plan aside because of some design flaws and resistance to such a large-scale policy change."[12]
- In 2013, Jindal proposed a plan to get rid of the state income and corporate taxes and replace the lost revenue with higher and broader sales taxes, but set the plan aside due to a lack of support. [13] This overhaul proposal received mixed reviews. According to The Fiscal Times, "The Institute on Taxation and Economic Policy, a liberal think tank, charged that the Jindal plan would raise taxes on the bottom 80 percent of Louisiana citizens. Conservative tax guru Grover Norquist of Americans for Tax Reform cheered the Jindal plan, calling it 'the gold standard for pro-growth reform.'"[14]
- Jindal supported making the Bush tax cuts of 2001 and 2003 permanent.[15]
Recent news
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See also
Footnotes
- ↑ Politico, "Louisiana Gov. Bobby Jindal drops out of White House race," November 17, 2015
- ↑ The Washington Post, "Transcript: CNBC undercard GOP debate," October 28, 2015
- ↑ Forbes, "Bobby Jindal: My Tax Plan Chooses To Starve Washington And Feed The Heartland," October 8, 2015
- ↑ Bobby Jindal for President, "The Jindal Tax Reform Plan: Everybody Has to Have Some Skin in the Game," accessed October 8, 2015
- ↑ Office of the Governor "Governor Bobby Jindal Announces Full Elimination of Stelly Tax in 2009" May 14, 2008
- ↑ The Times-Picayune, "Jindal agrees to eliminate Stelly plan's tax increases" May 14, 2008
- ↑ WAFB Channel 9, "Stelly tax ad causing controversy," June 18, 2008
- ↑ Office of the Governor "Governor Jindal Signs Balanced Budget that Protects Funding for Higher Education, Health Care, and K-12" June 19, 2015
- ↑ The Washington Post, "Jindal’s tax plan blessed by Norquist, cursed by conservatives in Louisiana," March 23, 2015
- ↑ Politico, "Jindal's tax problem," March 16, 2015
- ↑ The Advocate, "Gov. Bobby Jindal complimentary of state budget as he signs it into law," June 19, 2015
- ↑ Cato Institute, "Fiscal Policy Report Cards on America's Governors: 2014," accessed December 10, 2014
- ↑ The New York Times, "A Governor Retrenches on a Big Idea," April 8, 2013
- ↑ The Fiscal Times, "Bobby Jindal’s Failure Ruins Chances of Tax Reform," accessed February 20, 2015
- ↑ On the Issues, "Bobby Jindal on Tax Reform," accessed November 17, 2014
