Democratic Senate hopeful Tim Ryan says he’d like to see a tax cut for couples earning around $300,000 and other takeaways from his Today in Ohio interview

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CLEVELAND, Ohio — Representative Tim Ryan, a Niles-area Democrat running for the Senate, said he’d like to see a tax cut for couples earning around $300,000 in concert with an increase for the most rich.

Ryan made the comments during a special episode of Today in Ohio, cleveland.com’s daily news podcast, when asked how much he’d like to see a low-income tax cut and medium.

“We could sit down and sort this out, but I think working-class people — I mean couples — make less than $300,000 a year,” he said. “I don’t know. I mean, we could work out the exact number, but it’s the people who get hammered and therefore a tax cut for them – and I think there could be several. As I I said, the working income tax. The child tax credit. And then a basic reduction in rates with maybe a check in advance to people just to have some money in their pockets.

Along with a discussion on taxes, Ryan spoke about inflation, the humanitarian situation in Ukraine, and federal funding for the manufacture of microchips and microprocessors.

Ryan and his main rival Morgan Harper, a former attorney for the Consumer Financial Protection Bureau, both joined Today in Ohio for special episodes ahead of the primary. Columbus tech executive and activist Traci Johnson did not respond to an invitation.

Below are some of the topics and Ryan’s responses to the interview. You can listen to the full interview here.

What should the government do to curb inflation?

Ryan said there needs to be an immediate tax cut for the working class in several forms: expanding the earned income tax credit and child tax credit as well as reducing rates.

This should be accompanied by higher taxes on the country’s wealthiest people, he said.

“I would say we keep it short term and then we’ll see where we are because we have to worry about the long term issues of deficits and debts,” he said. “I mean, we just can’t keep borrowing either and the deficits are coming down, but we have to make sure that’s something we’re concerned about. But when you’re going through emergency circumstances like the pandemic and like now with inflation, I think it would be appropriate to cut those taxes, ask the richer people to pay more to compensate, and maybe even reduce the deficit. But in the short term, we have to make sure it gets done.

Ryan said he also supports Democratic President Joe Biden’s proposed “billionaire tax,” a tax that would target the nation’s 700 richest people.

“And again, I absolutely think we need to ask the richer people to pay more, but I don’t think it has to come from a place where we hate you because you’re rich or we hate you because you’re a businessman,” he said. “It must be like, ‘Look, we’re all on the same team here. We’re all trying to rebuild the country. We have to find a way to outperform China. That means we don’t have to have huge debts and deficits. “That means we need to have everyone on board. We need to invest in infrastructure, bring back the workshop class, invest heavily in our joint vocational schools, ensuring our people are healthy and economically secure. .

What would he do to support the CHIPS bill in the Senate, which he voted for in the House?

Ryan said he supports federal investments to boost chip manufacturing in the United States. This included both the CHIPS Act and the COMPETES Act.

Adding this type of industry, like Intel’s massive Columbus-area deal, has benefited the entire state, he said.

“For our purposes here, for this conversation with you, I think 60 of Intel’s 100 suppliers are in northeast Ohio,” he said. “So there will be a lot of small businesses that will really benefit. And that’s just going to show you that it’s, I think, a $50 billion package with the CHIPS Act and the COMPETES Act, I think it’s going to end up being around $250 billion. It just shows you the impact. If we can work with those companies to relocate, like we’re dealing with Intel, helping their suppliers, then you see the ripple effect. I mean, they’re bringing 30 vendors to Ohio.

Does he support canceling student loan debt, as Biden promised in the 2020 election?

Ryan said he was not in favor of canceling student loan debt, preferring instead to reduce the high interest rates associated with loans.

“We’re working in Congress right now and really trying to push through an initiative where you allow borrowers to renegotiate the interest rate to 1% or 2%, which would put a significant amount of money in their pocket, or allow them to pay off the student loan,” he said. “Also giving breaks after so many years to people who work in public service – cops, firefighters, teachers, that sort of thing – I think that would be really important.”

Ryan said it wouldn’t be fair to people who didn’t go to college to give general loan forgiveness.

“Now if you take out a loan, you have to pay back your loan,” he said. “I mean, that’s how it is. It wouldn’t be fair to anyone who doesn’t go to college. But we should bring that rate down.

Should the United States and Ohio accept Ukrainian refugees?

Ryan said he “absolutely” supports the arrival of Ukrainian refugees into the country. Ohio made perfect sense because of its already robust Ukrainian population, he said.

“I think Ohio is unique in that regard and we should be part of it,” he said. “We should look at the numbers to find out how much we would be able to take. And we should talk to some of the experts about this, but we should most definitely be part of this solution. And I think, you know, that would do nothing but enrich Cleveland and Youngstown and Toledo and other parts of the state that have Ukrainians.

Which Republican in the Senate could he see himself working with?

“Indiana’s Todd Young,” Ryan said. “He was a buddy. I used to work out in the gym with him in the mornings for years when he was in the House and he’s been in the Senate for a few years now. I think that would be someone. one that I could very easily work with.

Ryan added that he can usually see himself working with any of the Midwestern senators because they share a common interest. He noted that he had worked with Rep. Dave Joyce, a South Russell Township Republican, on issues such as cleaning up the Great Lakes.

Ryan has been criticized for shifting his stance over the years, particularly on abortion and guns. Why did he change his mind on these issues?

Ryan was first elected to Congress at age 29 and said his Catholic upbringing had a lot to do with his former opposition to abortion.

“When I came to Congress, I started listening to women who had had various difficult circumstances that they were trying to deal with,” he said. “I listened to my pro-choice colleagues like (Connecticut Democratic Rep.) Rosa DeLauro and others who were also Catholic and you worked with the organizations – Planned Parenthood and (former director) Cecile Richards – and we just tied the knot. friendships and listened and learned and realized that I didn’t feel like I was on the right side of the issue.

Ryan also had a high rating from the National Rifle Association, which is now most associated with right-wing politicians and gun manufacturers. In recent years, he has become much more supportive of certain gun restrictions, such as background checks, citing the Sandy Hook shooting as a turning point.

“I mean, they didn’t even want to be at the table,” he said. “And I just – I was angry. I just thought it was appalling. Because, you know, I like to go hunting. I hunt with our eldest, Mason, who would be happy to tell you he’s a better shot than me. But it’s like one of the big days we have, you know, going the night before and maybe watching a little football and then getting up in the morning and going hunting with some of our friends. It’s just a great cultural experience. And I felt like the NRA didn’t even honor that because they were on the other side of the school shooting and it’s like, ‘How could you do that?’ So, I took all the money I got from the NRA and gave it to groups that would help make communities safer by addressing the gun issue.

Ryan said unlike most people, he had to change his mind in the public eye.

“I feel like there are a lot of people who have gone through the same evolution,” he said. “It’s just that I made mine, you know, in a very public way.”

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