I rise today to join my fellow Senator from Rhode Island's effort to restore a basic level of fairness to our Tax Code. Senator Whitehouse has done an extraordinary job in fighting to return some sense of balance to a broken system. Most Americans agree Senator Whitehouse's legislation is fundamentally fair and they want to see it become law because as we all know, the Tax Code is riddled with loopholes that benefit the wealthiest Americans. It is past time we take this first step towards fixing a system that allows millionaires and billionaires to pay a lower tax rate than middle-class Americans. This is a defining vote--it is about who you stand for and with, working men and women or multimillionaires and billionaires. This legislation signals to middle- class Americans that the government should be focused on helping them, by ensuring that everyone pays their fair share to support essential government programs that invest in education, infrastructure and our nation's future. The Tax Code stacks the deck for the wealthy at the expense of the middle-class. The middle-class has already been squeezed enough by stagnant wages and a complex tax system that does not work for them. The revenue raised through this measure is deficit reduction that is not taken out on the backs of seniors or working American families. This legislation will only impact 0.2 percent of Rhode Islanders that earn more than $1 million in income per year.…
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