HM 1329 Summary

• Florida House requests Congress to adopt budgetary and other measures to reduce income inequality, citing data showing the top 1% earned 9% of total income in 1976 but 22.5% in 2012.

• Congress is requested to modernize personal and corporate income taxes by closing loopholes, eliminating offshore tax havens, and ensuring corporations pay minimum taxes.

• Congress should incrementally increase the minimum wage to represent a living wage and substantially increase funding for unemployment compensation, job training, affordable housing, and food assistance programs.

• Congress is requested to increase funding for early childhood education, public schools, vocational programs, and infrastructure repair while enacting legislation to contain health care and prescription drug costs.

• Congress should appoint a special study commission to examine consumer protection adequacy across credit, auto loans, mortgages, and employment law, and ensure federal regulation of financial institutions is sufficient and strongly enforced.