This upcoming Sunday, the people of Venezuela will hold an election that, if legitimate, would put an end to years of the oppressive Maduro narco-regime. U.S. Senator Marco Rubio (R-FL) issued a statement in support of the Venezuelan people: “The...
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Rubio: “La Tenacidad y Valentía del Pueblo venezolano Estarán a la Vista”
Este próximo domingo, el pueblo venezolano tendrá una elección que, de ser legítima, pondría fin a años de opresión por parte del narco-régimen de Maduro. El senador estadounidense Marco Rubio (R-FL) grabó un mensaje de video en español y emitió una declaración en...
Rubio, Scott, Colleagues to Biden Admin: No Privileges Should Be Given to 9/11 Terrorist
Twenty-three years ago, the United States was attacked by Islamic terrorists on September 11, 2001. Now, Zacarias Moussaoui, the only person convicted in a U.S. court for his role in the attack, has requested the U.S. Department of Justice to allow a prisoner transfer...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
Rubio, Colleagues Introduce Ensuring Continuity in Veterans’ Health Act
As the U.S. Department of Veterans Affairs (VA) opens up new facilities, many veterans are losing access to the VA’s Community Care Program and, consequently, their long-term healthcare providers. Veterans throughout the country have reported a loss of care, including...
Rubio Introduces Bill to Strengthen U.S.-India Security Partnership
The U.S.-India partnership is vital to countering influences from Communist China. In order to strengthen this partnership, it is essential to enhance our strategic diplomatic, economic, and military relationship with New Delhi. U.S. Senator Marco Rubio (R-FL)...
Republicans Who Are Rising to the Challenge
A new survey by the Pew Research Center finds that 72 percent of those polled say that, in general, the government’s policies since the recession have done little or nothing to help middle class people. This isn’t surprising, since median household income actually decreased after the official end of the recession in the summer of 2009. As many of us have argued before, the middle class is feeling anxious, insecure and uneasy — and they are right to feel that way.
This unhappiness provides Republicans with an opportunity — and two senators, Mike Lee and Marco Rubio, are stepping up at just the right time. Senators Lee and Rubio, the Tea Party’s great gifts to American politics, have put forward an outstanding tax plan. As my Ethics and Public Policy Center colleague Yuval Levin writes in summarizing the plan, it would:
- Cut the business tax rate to 25 percent (including for all pass-through business income, so that large and small businesses pay the same rate);
- End the taxation of capital gains, dividends, and interest;
- Allow businesses to deduct capital investments from their taxable income immediately rather than over time;
- Consolidate today’s seven tax brackets into two brackets at a 15 percent and 35 percent rate (although business income would be taxed at 25 percent and income from savings would not be taxed);
- Repeal the Alternative Minimum Tax and most of the deductions in the code (leaving only the charitable deduction and a capped mortgage interest deduction that would both be available to all taxpayers, not just those who itemize); and
- Replace today’s standard deduction with a $2,000 individual ($4,000 per married couple) credit, end the marriage penalty in the tax code, and provide a new $2,500 per child credit (alongside the existing $1,000 credit, which phases out with income).
There’s more to it than that, of course, and there are still important matters still to be determined, most especially the details of the cap on mortgage interest deductions (meaning the design and level of the cap). But the key thing to take away from this effort, I think, is that it would lesson the tax burden on working families and businesses, and in doing so provide help to the middle class and promote economic growth.
“Our hope here isn’t to pick winners and losers. Our hope here is to trigger economic growth,” Senator Rubio told reporters. He added that he believes “the vast majority of Americans” would see tax cuts if the plan was implemented.
This is a model approach for Republicans, whether they are running for president, the House or Senate, governor, or state legislator: To put forward ideas that are substantive and specific, bold, and address to the needs and challenges of our time. By which I mean they will actually and materially improve the conditions of ordinary Americans.
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