Washington, D.C. – U.S. Senator Marco Rubio (R-FL) released the following statement yesterday regarding the tax filing deadline:
“Each Tax Day is a reminder of how complicated and fundamentally flawed our tax system is. Despite all the theater and drama of the last few weeks, including a budget deal full of gimmicks and a protracted threat of a government shutdown, Washington leaders still feel that they know how to best spend the people’s money. But more than two hundred years of American entrepreneurship have proven this belief to be false.
America’s greatness lies in our ability to foster a culture of innovation and provide the opportunities and incentives for entrepreneurial risk-taking. When hampered by burdensome taxes and regulations, however, our small business leaders find their efforts to start new businesses or to expand existing ones stifled.
America’s debt is also a major obstacle. Every day, consumers and business owners have to make assumptions about the future before they decide how to spend their money, and they are betting that our debt will lead to even higher taxes down the road. They are also hesitant because they know there are major tax increases that are scheduled to take effect in less than two years. But higher taxes would jeopardize the very job creation we need to tackle our debt.
America cannot simply cut its way out of this $14.2 trillion debt. We will also have to create new jobs and grow our economy as part of the solution. A critical component of any debt reduction plan must be a pro-growth proposal to lower and simplify our tax rates, close loopholes, and make permanent low rates on capital gains and dividends.”