June 17th, 2017
The middle class is the driving force behind our nation’s economic growth and yet too many families are struggling to make ends meet, with many people working multiple jobs just to put food on the table. This is in part due to a tax system that burdens small businesses while providing tax breaks for companies and major corporations that ship jobs overseas. I strongly support comprehensive tax reform that will help America’s families, students, and small business owners get ahead.
Economic inequality is another important challenge that must be addressed. All Americans who work full time deserve a living wage, which is why I am proud to be an original cosponsor of H.R. 2150, the Raise the Wage Act. This legislation will increase the federal minimum wage from $7.25 to $12.00 per hour by the year 2020, and provide low-income workers with a salary that enables them to better support their families, while providing a boost to our economy through increased consumer spending. While this legislation is a great first step, in places like Massachusetts where the cost of living is high, there is still more work to be done to address wage stagnation and income inequality. It’s time to make sure that all hard-working Americans have the opportunity to get ahead.
We also need to do more to help small business owners. That’s why I’m proud that the Microloan Modernization Act – my first bill to pass the House – increases access to loans for startups and small businesses in Massachusetts and nationwide. In 2015, microloans supported nearly 16,000 jobs and 3,900 small businesses including many right here in the Sixth District. We’ve seen all too often that our small business leaders, and especially aspiring entrepreneurs, either try to self–finance new business ventures on personal credit cards or don’t take the risk at all given the fear of failure. We need to give these business leaders the incentives and resources they need to start new business and grow existing ones. Expanding access to capital is a critical part of ensuring our small businesses have the opportunity to thrive.
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