Election Day is 10 days away and Texas voters still don’t know who MJ Hegar is
-- let alone her policy plans. The latter is a result of her deliberate

Election Day is 10 days away and Texas voters still don’t know who MJ Hegar is
-- let alone her policy plans. The latter is a result of her deliberate
evasiveness toward deep dives into policy. In fact, theDallas Morning News
<[link removed]>
pointed out today: “even though Hegar voted for Sen. Elizabeth Warren for
president in the March primary, she lacks the Massachusetts liberal’s penchant
for issuing detailed policy prescriptions. On her website, Hegar doesn’t
specify how much financial assistance Congress should give individuals and
small businesses as the pandemic continues, nor what to do to lower housing
costs or make taxes fairer.” Time to hold her to account.

 

Today we look at:  The Warren-Hegar Plan to Raise Taxes 

 

MJ has echoed Elizabeth Warren’s call to raise the Social Security Payroll Tax
. Warren’s plan would hike the payroll tax to as high as 14.8% and extend the
tax to those drawing investment income, such as dividend checks and capital
gains from stocks and assets (Tax Foundation
<[link removed]>). This increase on
capital gains would be thelargest tax increase on investment and saving in
American history
<[link removed]>
. 

 

Under the Warren-Hegar Tax Plan, Americans would see their taxes increase by
$1.89 trillion, and putmore than 532,500 full-time equivalent jobs in jeopardy
<[link removed]>. For self-employed
Texans who pay full FICA contributions – and whose income has been especially
impacted by COVID – this type of tax hike, which siphons more of their wages
for federal taxes, could not come at a worse time. 

 

The second part of the Warren-Hegar Tax (Hike) Plan is rolling back the 2017
tax cuts – which let the average Texan keep more than $1,300 of their
hard-earned paycheck. The2017 Tax Cuts & Jobs Act also brought huge relief for
small businesses
<[link removed]>
thanks to its 20% deduction on business income for pass-throughs. The Federal
Reserve Bank of Dallas recognized these cuts as amajor generator of jobs and
greater economic prosperity
<[link removed]> nationwide
prior to COVID-19.

 

While MJ calls this relief a “tax scam,” the NFIB
<[link removed]>
reports small businesses used these tax breaks to:

* Give pay raises

* Invest in needed infrastructure and equipment

* Hired new employees

* Paid down deb
Texans deserve to know how her radical policies and cheerful declarations of
“Raise the income cap!” and “walk back the tax reform!” would affect families
across the state. 

 

How does MJ justify raising taxes on businesses and households?

 

Krista Piferrer

Press Secretary

Texans for Senator John Cornyn

 

BACKGROUND

 

Tax Reform Has Delivered Substantial Benefits To Texas Taxpayers And Job
Creators



In Texas, The Tax Foundation Found That The Tax Cuts & Jobs Act Delivered An
Average Tax Cut Of $1,324.56 In 2018. (“The Impact Of The Tax Cuts And Jobs Act
By Congressional District,”Tax Foundation
<[link removed]>, 2018)

 

The Tax Foundation Also Found That Texas Added 18,128 Jobs In 2018. (“The
Impact Of The Tax Cuts And Jobs Act By Congressional District,”Tax Foundation
<[link removed]>, 2018)

 

A 2019 Analysis From The Federal Reserve Bank Of Dallas Found That Texas “Was
One Of The Top 10 States In Terms Of The Size Of The Average Tax Cut Relative
To State-Level Income.” “The Tax Cuts and Jobs Act of 2017 (TCJA), signed into
law on Dec. 22, 2017, extensively cut individual income and corporate taxes and
is widely believed to have contributed to stronger economic activity nationally
in 2018… Texas, realizing a tax cut of almost $1,400 per tax-filing household
in 2018, was one of the top 10 states in terms of the size of the average tax
cut relative to state-level income.” (Anil Kumar, “Texas Sees Job, Output Gains
From 2018 U.S. Tax Cut,”Federal Reserve Bank Of Dallas
<[link removed]>, 2019)

 

MJ Hegar Will Vote to Raise Taxes on Individuals and Businesses

 

Hegar: “We’ve Got To Walk Back The Tax Reform – The Tax Scam. It Was Not A
Middle-Class Miracle.” HEGAR: “You know, we’ve got to walk back the tax reform
– the tax scam. It was not a middle-class miracle.” (MJ Hegar, Remarks At A
Campaign Event, San Antonio, TX, 2/19/20)

 

Hegar: “I do think we need to bring taxes back to a place where people are
paying

their fair share including corporations.” HEGAR:  I do think we need to bring
taxes back to a place where people are paying their fair share including
corporations.” (MJ Hegar, Democratic Primary Runoff Debate, 6/620)

 

Biden Has Called For A 12.4% Payroll Tax On Wages Above $400,000, While Warren
Has Called For A 14.8% Payroll Tax On Wages Above $250,000. (Garrett Watson and
Colin Miller, “Analysis Of Democratic Presidential Candidate Payroll Tax
Proposals,”Tax Foundation
<[link removed]>, 2/11/20)

 

According To A Tax Foundation Analysis, Biden’s Payroll Tax Hike Would Total
$808 Billion Over A Ten-Year Period, While Warren’s Payroll Tax Hike Would
Total $1.89 Trillion. (Garrett Watson and Colin Miller, “Analysis Of Democratic
Presidential Candidate Payroll Tax Proposals,”Tax Foundation
<[link removed]>, 2/11/20)

 

According To A Tax Foundation Analysis, Biden’s Payroll Tax Hike Would
Jeopardize 350,400 Full-Time Equivalent Jobs, While Warren’s Payroll Tax Hike
Would Jeopardize 532,500 Full-Time Equivalent Jobs. (Garrett Watson and Colin
Miller, “Analysis Of Democratic Presidential Candidate Payroll Tax Proposals,”
Tax Foundation <[link removed]>,
2/11/20)

 

 

Krista Piferrer

Press Secretary
Texans for Senator John Cornyn








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