Taxation

  1. Propose landmark legislation that drives our changing economy forward and provides opportunity to all Americans. Our laws and our policies have not kept pace with our changing economy and the digital revolution. That’s why Senator Klobuchar will propose landmark legislation to take on monopoly power, empower our workers, and protect consumers’ privacy and health data privacy. She will also invest in quality child care, raise the minimum wage, provide paid family leave, support small business owners and entrepreneurs, as well as establish portable, worker-owned UP Accounts for retirement savings. She will also allow students to refinance their loans at lower interest rates, provide tuition-free community college and technical certifications, and expand Pell Grant eligibility and award amounts. To pay for these policies and reduce the debt, Senator Klobuchar will repeal the regressive portions of 2017 Republican tax reform, equalize tax rates for capital gains and ordinary income, put the Buffet rule in place, and close the carried interest and big oil loopholes.
  1. Prevent outsourcing of jobs overseas by closing tax loopholes on corporations’ overseas earnings. The 2017 tax law instituted a new minimum tax on corporations’ overseas earnings but applied the tax on a global or “blended” rate, encouraging companies to move physical operations and jobs overseas. Senator Klobuchar will direct the IRS to mitigate the worst effects of this law and crack down on attempts to minimize tax liability through outsourcing.
  1. Provide Americans a strong taxpayer advocate. The IRS Taxpayer Advocate exists to help taxpayers navigate tax laws and serve as an ally when Americans need to engage with IRS representatives. But the Trump Administration refused to designate the Taxpayer Advocate Service an “essential service,” forcing it to close shop during the government shutdown and leaving taxpayers without a crucial ally. Senator Klobuchar will designate the IRS an essential service so taxpayers have continued access to this support and advocacy.
  1. Improve free tax filing. Senator Klobuchar will direct the IRS to prevent tax preparation vendors from steering low-income taxpayers toward paid products, which has reduced the use of free filing products. She will also direct the IRS to devote greater resources to the enforcement of vendors’ obligations under the Free File program.
  1. Prevent abuses by IRS private debt collectors. Reports suggest that the IRS private debt collectors have abused and harassed low-income taxpayers whose tax debts are relatively small. Senator Klobuchar will overhaul the program and limit these abuses.
  1. And more! Senator Klobuchar is committed to governing from opportunity and taking administrative actions when it comes to our foreign policy and security, veterans, health care, education, income inequality, worker protections, economic justice, immigration reform, unions, civil rights, climate change, the environment, criminal justice reform and gun violence prevention. She will be updating these goals with your ideas.