Roskam touts $300M in additional payroll taxes seen under Tax Cuts and Jobs Act
Illinois Congressman Peter Roskam is touting the positive impact on wages and job growth under the Tax Cuts and Jobs Act (TCJA), which he co-sponsored and helped to usher through the House Ways and Means Committee in November 2017.
Economic growth from the TCJA has contributed an additional $300 million in payroll taxes, Roskam said in a press release, along with historically low unemployment.
“Medicare is undoubtedly a benefactor of the booming economy,” Roskam said. “In this job seeker’s economy, workers with disabilities are finding employment more easily, which results in fewer Americans requiring disability insurance and Medicare — further improving Medicare solvency.”
Roskam also backed a bipartisan plan to eliminate Medicare fraud, potentially saving the agency $40 billion a year, according to the press release.
But Democrat Sean Casten, who is running against Roskam for the 6th District House seat, has proposed a Medicare plan that would charge an additional $600 annually for every $10,000 earned beyond $128,000. In an op-ed piece published on Medium.com, Casten also advocated repealing other key provisions of the TCJA.
“Instead of proposing real solutions that will fix our Medicare system, Sean Casten takes his usual approach and proposes a new tax for 6th District residents, including seniors,” said Veronica Vera, spokeswoman for Roskam for Congress.
“Casten, a multimillionaire, then shockingly refers to residents earning a $128,000 annual income as ‘ultra wealthy.’ Ask a family of six with a $128,000 household income and they’d strongly disagree.”
The 6th U.S. Congressional District of Illinois includes the cities of Crystal Lake, Darien, Elgin, Naperville, Oakbrook Terrace, Rolling Meadows, St. Charles, Warrenville, West Chicago and Wheaton.