Tom Steyer outlines plan for 10% middle-class tax cut, goes after Democratic rivals in Iowa City

Tom Steyer outlines plan for 10% middle-class tax cut, goes after Democratic rivals in Iowa City speech

Ian Richardson


Tom Steyer on Monday laid out his plan to give the middle class a 10% tax cut, saying he would pay for it by taxing earned and passive income at the same rate.

The billionaire and 2020 Democratic presidential candidate outlined the plan during a speech Monday in Iowa City.

"I plan to treat all taxable income the same, paychecks and investment income," Steyer said. "I'll end the capital gains giveaway because it's not right that those who work for a living pay more in taxes than those who make money off of passive investment."

Steyer, whose campaign has emphasized fighting climate change and getting corporate money out of politics, focused his remarks on Monday on his economic agenda in what his campaign billed as a "major economic address."

Read more: https://www.desmoinesregister.com/story/news/elections/presidential/caucus/2019/12/16/election-2020-tom-steyer-announces-plan-middle-class-tax-cut/2669082001/