{"database": "press", "table": "releases", "rows": [["https://www.baldwin.senate.gov/press-releases/baldwin-proposes-amendments-to-republican-tax-bill", "U.S. Senator Tammy Baldwin Proposes Amendments to Republican Tax Bill", "2017-11-30", "2017", "2017-11", "Democrat", "House", "WI", "Tammy Baldwin", "B001230", "www.baldwin.senate.gov", null, null, "legacy", "11.30.17\n\t\t\t U.S. Senator Tammy Baldwin Proposes Amendments to Republican Tax Bill \n\t\t\t\n\t\t\t Close Carried Interest Tax Loophole for Wall Street Money Managers \r\n Provide Tax Relief for Working Families, Start-Ups, Small Businesses and Manufacturers \r\nWASHINGTON, D.C. \u2013 U.S. Senator Tammy Baldwin today introduced four separate amendments to the Republican tax bill in the Senate.\r\n\u201cI think we need to make our tax system simpler and fairer for hardworking families, small businesses and manufacturers. That is what I have been working for,\u201d said Senator Baldwin. \u201cBut the Republican plan is a tax giveaway to the top 1% and powerful corporations. This partisan legislation lets Wall Street keep a tax loophole while most Americans earning less than $75,000 a year would see tax increases. That\u2019s not right and it\u2019s not fair.\u201d\r\nBaldwin\u2019s amendments include closing the carried interest tax loophole by ensuring that income earned by managing other people's money is taxed at the same ordinary income tax rates as the vast majority of working Americans.\r\nPresident Trump has repeatedly promised to close the loophole, saying, \u201cWe will eliminate the carried interest deduction and other special interest loopholes that have been so good for Wall Street investors, and for people like me, but unfair to American workers.\u201d On May 1, 2017, after being asked why his tax reform outline didn\u2019t specifically mention carried interest after campaigning on its closure, the President responded by saying, \u201cIt\u2019s out. Done\u2026carried interest was great for me, but carried interest was unfair and it\u2019s gone.\u201d\r\nIn September, Senator Baldwin called on President Trump to make good on his pledge to close the carried interest tax loophole\u00a0and act on her\u00a0Carried Interest Fairness Act. And earlier this month, she\u00a0sent a letter to Chairman Hatch urging him to keep President Trump\u2019s promise to close the carried interest tax loophole. In May, Senator Baldwin re-introduced the Carried Interest Fairness Act to end the carried interest tax loophole to ensure that income earned by managing other people's money is taxed at the same ordinary income tax rates as working Americans.\r\nThe Senate Republican tax bill fails to close the tax loophole for money managers on Wall Street.\r\n\u201cI want to see loopholes closed \u2014 like the one\u00a0that favors Wall Street hedge funds and allows them to pay a lower tax rate than many Wisconsin workers pay.\u00a0 It\u2019s simply unfair for Wisconsin workers to pay a higher tax rate than a millionaire on Wall Street,\u201d said Senator Baldwin. \u201cI have legislation to close the carried interest tax loophole for the wealthy on Wall Street but this partisan tax legislation lets billionaires on Wall Street keep their loophole. If Senate Republicans want to help President Trump keep his promises to the American people, they will support my amendment.\u201d\r\nThis year Senator Baldwin has introduced a number of tax reforms aimed at bringing tax relief to working families, start-ups, small businesses and manufacturers in Wisconsin. Today, she will be offering these reforms as amendments to the Republican tax bill in the Senate.\u00a0\r\nThe\u00a0Stronger Way Act\u00a0would provide tax relief to working families by expanding the earned income tax credit and child tax credit.\r\n\u201cThis tax reform rewards hard work and helps raise incomes by allowing workers to keep more of what they earn. The Stronger Way Act strengthens the Earned Income Tax Credit and Child Tax Credit for working families,\u201d said Senator Baldwin. \u201cIt also helps move the unemployed into the workforce by creating a new federal-state partnership to invest in local jobs programs that will help raise incomes for working families.\u201d\r\nThe\u00a021st Century Manufacturing Act would provide tax relief to manufacturers so they can invest in research and development, create jobs and help drive economic growth.\r\n\u201cIn order to maintain our strong Made In Wisconsin manufacturing economy, we need to provide tax relief to manufacturers so they can invest in innovation and create jobs,\u201d said Senator Baldwin.\u00a0 \u201cThis tax reform will encourage manufacturers all across our state to invest in research and development and help drive economic growth for years to come.\u201d\r\nThe Support Our Start-Ups Act\u00a0provides tax relief to small business start-ups so they can invest in growing their business and creating jobs.\r\n\u201cWisconsin has a proud history of entrepreneurship and innovation, but recent reports show that we need to do more to support our\u00a0Made in Wisconsin\u00a0start-ups,\u201d\u00a0said Senator Baldwin. \u201cWisconsin\u2019s small businesses need a tax break and that's what I'm working for. Small businesses are the engines of our economy and if we provide tax relief to start-ups, we can free up investments to create jobs and grow our economy.\u201d\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\n\t  \n\n\t\n\t\n\t\n\t\n\t \n\t\t\n\t\t\tPrint\n\t\t\n\t\t\n\t\t\t\n\t\t\tEmail\n\t\t\n\t\t\n\t\t\t\n\t\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\tTweet\n\t\t\t\n\t\t\n\t \n\t\n\t\n\n\t\n\t\n\t\n\t\n\t\n    \n\t\n\t\n    \n    \n    \n    \t\n    \t\n\t    \t  \n\t\t    \n\t\t    \n\t\t    \tPrevious Press Release", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.baldwin.senate.gov/press-releases/baldwin-proposes-amendments-to-republican-tax-bill"], "units": {}, "query_ms": 0.7512839511036873, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}