VIDEO: Rubio Discusses Tax Relief for Working American Families
Washington, D.C. – U.S. Senator Marco Rubio (R-FL) appeared on Fox News’ The Ingraham Angle Wednesday to discuss current issues facing Congress, including the Rubio-Lee amendment Rubio introduced to the Senate tax bill that would give working American families a far larger share of tax relief than the existing bill currently does.
A partial transcript of Rubio’s remarks is below.
RUBIO: Let me tell you what it is, it’s very simple: it’s a child tax credit. And it’s designed to help working people. Who are the people that will benefit from this? Firefighters, members of the armed services, teachers, construction workers.
So what it is – a lot of people because they make $40,000 a year, they don’t get to fully benefit from the child tax credit because they don’t have a lot of income tax liability but they pay payroll tax. They’re the working people in this country that have been ignored and forgotten. They’re people that elected President Trump because they’ve been not just ignored but disrespected.
And all it says is you’re going to get to keep more of your own money. That’s what the amendment does. They actually say it’s a disincentive to work – that’s ridiculous. You can’t even get the tax credit if you are not working. So this is people making between 20 and 50 or $60,000 who would benefit greatly. And by the way if you look at the states that would benefit the most, I think it is 18 out of the top 20 states voted for the president in the 2016 election. Why? Because working people, raising children, are the people that voted to elect the president with a very clear message that they sent us here to fight for them, not for the moneyed interests that control Washington.
On the corporate side, a 22% corporate tax rate is 13 points lower than what it is now. The difference between 20 and 22 – it would still make us third among the G7 nations. It would still put us below the global average. There is no difference in growth between 20 and 22 percent.
You’re not going to see any less growth at 22 than you would at 20. It still puts us lower than the world – it’s still ranked at 3rd among the G7. And, by the way, if there’s another way to pay for it, I am open to it.