Sen. Rand Paul has an Op-Ed in The Hill arguing for the biggest and boldest tax cuts Congress can muster. The fiscal conservative has voted against some budgets that spend too much, but he leaves no doubt that he wants big tax cuts for everyone that pays taxes. It’s their money; let them keep more if it.
I favor the biggest, boldest tax cut that Congress can pass. I’m 100 percent with President Trump in advocating for a 15 percent corporate rate to keep jobs in America.
I have been and will continue to be a loud voice for across-the-board tax cuts for everyone – rich, poor, and middle class. When the GOP leadership plan first came out, I raised a warning flag and urged the tax plan writers to slow down and make sure they got it right. Some simple calculations were telling us that some middle or upper-middle-class taxpayers could have been subject to a tax hike, if the tax plan eliminated big deductions for the middle class while keeping the 25 percent rate the same.
The D.C. swamp has paid-for toadies on the left and the right. From the right come cries that I am opposing the tax plan. Far from it. I am trying to make it better. The pretend tax-cutters who argue that conservatives should shut up, sit quietly in the back of the bus, and let the leadership write the tax plan are wrong. Conservatives get outfoxed and bamboozled when we acquiesce and hope for the best.
Some of these swamp creatures on the right forget that the primary directive for conservatives is to lower taxes, not just eliminate deductions. Most of us can be convinced that repealing the state income tax deduction is good policy, but only after we’re convinced that your “reform” is not going to raise taxes on the middle class.
Fortunately, our agitation has borne fruit. Tax writers from the Senate leadership, Finance Committee, and the White House — at the personal direction of President Trump — have been working with my office for weeks to get some of the details right. I believe this will happen, and I’m very encouraged by the results so far and their willingness to see the problems and help me correct them.
With that in mind, I’ve offered the president and congressional leaders my full support for cutting taxes for Americans – and doing so quickly. I look forward to it coming to the floor soon.
What exactly will we be doing? A big part of it will be helping provide tax relief to those who provide jobs and can infuse capital into our economy. From cutting the corporate rate, to changing antiquated expensing rules, to lowering taxes on money sitting overseas, this tax plan looks to make America competitive again with the rest of the world.
We want a giant “OPEN FOR BUSINESS” sign on American soil. For too long, businesses have been looking to expand or move elsewhere. That will stop if this plan is enacted.
There is a sum of nearly 2 trillion dollars sitting overseas – money made by American corporations abroad – and it has been taxed already where it was made. For nearly 15 years, the U.S. has insisted that companies pay ANOTHER 35 percent to bring it home, resulting in this money sitting outside our shores, useless to American job seekers. This plan fixes that and brings that money home.
Finally, and the part I’ve been fighting for — this plan will give a personal income tax cut to the American taxpayer. Individuals deserve more money in their pocket, and our economy will get a huge boost as a result.
We have accepted 2 percent growth and stagnant wages for too long. We haven’t overhauled the tax code for over 30 years. This plan will put our growth, jobs, and wages into overdrive and will simplify the code for the first time in a generation.
Read the rest of Paul’s pitch here.