Rubio: “I think our future can be brighter than our past. I think that the 21st century is tailor-made for what America is good at — innovation and job creation and investment. But we have to make a few changes if we want to fully utilize that.”
U.S. Senator Marco Rubio
CNBC’s “The Kudlow Report”
March 10, 2014
Senator Marco Rubio: “We still have many of the things in place that we need to succeed. We do, however, have a tax code, for example, that makes America increasingly expensive to invest in. We do have regulations that are standing in the way of the sorts of innovation that we need. And that’s why I’ve argued not just for a national regulatory budget, which basically says that every year you have to set a budgetary amount of how much regulations should be allowed to cost the economy. And then every year you’d have to estimate how much the actual proposed regulations are costing. And if it’s over that budgeted amount, you have to reduce regulation to get underneath it.
“Beyond that, I would say that our tax code, particularly on the corporate side, needs to be made competitive again. You’ve heard that from many people. But to graphically explain to people the decisions that companies are going through as they decide whether to invest or not in America’s future. Right now, we have $4 trillion of cash that companies are sitting on and won’t invest because of the tax code and also because the uncertainty created by the national debt.”
Rubio: “I agree. I think our future can be brighter than our past. I think that the 21st century is tailor-made for what America is good at — innovation and job creation and investment. But we have to make a few changes if we want to fully utilize that. And I think if we make them, we’re going to trigger the next American century.”