Sens. Mike Lee and Marco Rubio Introduce
Tax Reform Plan...back
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March 4, 2015 - Emphasizing the
need to promote economic growth, Sens. Marco
Rubio (R-FL) and Mike Lee (R-UT) announced the Economic Growth and
Family Fairness Tax Reform Plan, a plan to reform individual and
business taxes. "A great challenge for us in the 21st century is
how rapidly the structure of our economy has changed and our policies
have not kept pace with that," Rubio stated. Rubio said, "We have to make America the best
place in the world for people to do
business, to invest and to innovate. And one of the ways we can do that
is by reforming our tax code to become a pro-investment tax code, a
pro-growth tax code."
"The second phase of something
that both Mike Lee and I have worked on and will continue to talk about
is we need entitlement reforms in America to save Medicare and Social
Security and to bring our long-term debt under control. But you
cannot cut your way out of our current predicament; you need growth to
accompany it, and this is the first step in that process. This is
a growth plan."
The Rubio-Lee plan adds a business tax reform component to the Family Fairness and Opportunity Tax Reform Act, an individual tax reform plan that Sen. Lee introduced in Oct. 2013. The senators said they do not have a timeline for introducing legislation. [press release | reactions] |
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