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Sen. Marco Rubio expresses doubts about tax bill: ‘probably went too far’


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Sen. Marco Rubio (R-Fla.) expressed public doubts on Friday about the economic benefits of the tax bill he voted for and said the bill “probably went too far” to protect corporations.

In an interview with a Florida newspaper, Rubio praised some aspects of the tax bill, but expressed doubts about the extent of the cuts to the corporate tax rate in particular. The bill, which passed with no Democratic support, lowered the corporate tax rate to 21 percent from 35 percent.

Overall, Rubio said that the tax bill made the tax code better, but he predicted that the corporate tax cut would probably not lead to economic growth:

If I were king for a day, this tax bill would have looked different. I thought we probably went too far on (helping) corporations. By and large, you’re going to see a lot of these multinationals buy back shares to drive up the price. Some of them will be forced, because they’re sitting on historic levels of cash, to pay out dividends to shareholders. That isn’t going to create dramatic economic growth. (But) there’s a lot of things in the bill that I have supported for a long time (such as) doubling the Child Tax Credit. And it is better – significantly better – than the current code.

Rubio was one of the final Republican holdouts on the tax bill. He threatened to vote against the bill because of the planned reductions in the Child Tax Credit. Ultimately, Rubio prevailed in his fight with Republican leadership, which led him to change his vote to a “yes.”


Rubio's regrets?

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