John Delaney on Corporations
Democratic candidate for President; U.S. Rep from MD-6
Investors should pay as much tax as workers
Q: Your net worth is more than $65 million. That would make you subject to Senator Warren's proposed wealth tax on the assets of the richest 75,000 households. Do you think Warren's wealth tax is fair?
DELANEY: I think wealthy Americans have to pay
more. Listen, I grew up in a blue-collar family. Became a successful entrepreneur. And I've done well financially. I think I should pay more in tax. I think wealthy Americans should pay more in tax. But we have to have a real solution: raise
the capital gains rates. There is no reason why people who invest for a living should pay less than people who work for a living. That's ridiculous. It's the biggest loophole in our tax code. That's how we get more revenues from wealthy individuals: we
roll back the Trump tax cuts to wealthy individuals. I think the wealth tax will be fought in court forever. It's arguably unconstitutional. And the countries that have had it have largely abandoned it because it's impossible to implement.
Source: July Democratic Primary debate (first night in Detroit)
, Jul 30, 2019
Raise corporate taxes, but lower rates than 2017
Delaney on Corporate Income Taxes: Raise corporate taxes, but keep rates lower than before 2017.
FIVE CANDIDATES HAVE SIMILAR VIEWS: Joseph Biden, Jr.; Amy Klobuchar; Seth Moulton; Beto O`Rourke; Joseph Sestak.
Sen. Klobuchar and
Rep. Moulton want to raise the corporate income tax rate to 25% from its current 21%. Rep. Delaney has suggested boosting the rate to around 27%. Rep. O`Rourke and V.P. Biden favor raising the rate to 28%.
Source: Politico "2020Dems on the Issues"
, Jul 17, 2019
Awarded for lending to 5,000 disadvantaged businesses
I'm very different than everyone else here on the stage. Prior to being in Congress, I was an entrepreneur. I started two businesses. I created thousands of jobs. I spent my whole career helping small- to mid-sized businesses all over the country,
5,000 of them I supported. The Obama administration gave me an award for lending to disadvantaged communities.
I know how to create jobs.
We need a short-term strategy which is to put money in the pockets of workers with the earned income tax credit, raising the minimum wage, and creating family leave,
and then we need to have a long-term strategy to make sure this country is competitive and we're creating jobs everywhere in this country.
Source: June Democratic Primary debate (first night in Miami)
, Jun 26, 2019
Capitalism with regulation, but not socialism
If we embrace socialism in its pure form that's a mistake. I'm a capitalist by nature. The genius of our country is that we embrace capitalism. We embraced its power to create jobs and innovate. But we also invested in social programs. We did things
to moderate capitalism. We had regulation, we had tax policy, workers' rights. We built great societal infrastructure to make sure people have a chance. We are a capitalist country that has strong social programs. And that's our model going forward.
Source: CNN Town Hall on 2020 Democratic presidential primary
, Mar 10, 2019
Raise corporate taxes to pay for infrastructure
Source: PBS News hour on 2020 Presidential hopefuls
, Feb 4, 2019
- Infrastructure: Repatriate tax revenue to fund bipartisan infrastructure package.
- At the top of Delaney's list of priorities, both as a congressman and presidential candidate, is investment in infrastructure.
A year ago, he wrote a letter urging Trump to raise the corporate tax rate from 21 percent to 23 percent in order to fund a $200 billion infrastructure package. In Congress, he strongly opposed the tax reform bill passed by Republicans in
2017 (which lowered the corporate tax rate from 35 percent to 21 percent).
- The tax bill included measures incentivizing companies to bring overseas earnings back to the United States; Delaney argued that the revenue should have been put towards
- Each House session he was in Congress, Delaney introduced the Partnership to Build America Act to fund a $750 billion infrastructure package.
Early adopter of healthcare "capitation" business model
[I founded Leddel Health with Ethan Leder]. We became one of the first home care companies to switch its business model to "capitation", charging a flat monthly fee rather than a per-patient fee. By streamlining in this way, we managed to persuade
Kaiser Permanente to give us a contract for $35,000 a month to provide its home care in the area. This was a huge boost; it stabilized the business and allowed us to hire more people. Still, by that time, Ethan and I had learned enough about home
health care to realize that there was a better business opportunity than the one we'd been pursuing. It was related to an emerging industry called home infusion therapy.
This was the early 1990s, a time when intravenous medicines were increasingly
being delivered in the home, mostly for patients suffering from HIV/AIDS or cancer. Ethan and I pivoted and started our own home infusion company, which we named American Home Therapies.
Source: The Right Answer, by Rep. John Delaney, p. 90-1
, May 29, 2018
Founded HealthPartners Financial; sold for $500M in 1999
Small to midsize health care companies had a real need for financing, and very few financial institutions were willing to fill that need. In 1993 we decided to start our own health care financing company. I had just turned thirty.
We set up shop, named our fledging firm HealthPartners Financial Corporation (later changed to HealthCare Financial Partners), the business took off.
On the day of our initial public offering, in September 1996, Health Care Financial Partners was worth $86 million.
We kept on growing the business, hiring people, and financing hundreds of health care companies. In 1999, we sold our company to Heller Financial for $500 million.
Source: The Right Answer, by Rep. John Delaney, p. 92-4
, May 29, 2018
Founded Leddel Health with fellow law school student
While in law school, I got to know a fellow student named Ethan Leder. A very small home health care company was for sale for just $15,000. The company had 6 employees, and it was struggling financially, but Ethan and I didn't care because the price was
right. Our little company, which we renamed Leddel Health, based on a combination of our last names, was the worst home care agency in the city. We were truly the last call of resort; people turned to us when they couldn't get anyone else to come.
Source: The Right Answer, by Rep. John Delaney, p. 89
, May 29, 2018
Voted NO on workforce training by state block grants & industry partners.
Supporting Knowledge and Investing in Lifelong Skills Act or SKILLS Act:
Opponent's Argument for voting No:
- Reauthorizes appropriations workforce investment systems for job training and employment services.
- Requires a plan describe:
- strategies and services to more fully engage employers and meet their needs, as well as those to assist at-risk youth and out-of-school youth in acquiring education, skills, credentials, and employment experience;
- how the state board will convene industry or sector partnerships that lead to collaborative planning;
- how the state will use technology to facilitate access to services in remote areas;
- state actions to foster partnerships with non-profit organizations that provide employment-related services; and
- the methodology for determining one-stop partner program contributions for the cost of the infrastructure of one-stop centers.
- Repeals title VI (Employment Opportunities for Individuals with Disabilities)
National League of Cities op-ed, "H.R. 803 fails because it would:"
Reference: SKILLS Act;
Bill H.R. 803
; vote number 13-HV075
on Mar 15, 2013
- Undermine the local delivery system that has been the cornerstone of job training programs
- Establish a program that is based on political boundaries (states) rather than on economic regions and local labor markets, or the naturally evolving areas in which workers find paying work
- Eliminate a strong role for local elected officials but require that they continue to be fiscally liable for funds spent in their local areas
- Change what was once a program targeted to those most in need--economically disadvantaged adults and youth and special population groups like veterans, migrant farm workers, and low income seniors--into a block grant to governors
- Contribute to the emerging division between those American's who have the requisite skills to find employment and those who do not.
Page last updated: Dec 14, 2019