Duval Times

U.S. Senator Marco Rubio (R-FL) has written a letter to the editor of the Wall Street Journal, responding to the recent editorial titled "Mr. Smith's Lousy Tax Deal". While Rubio agrees with certain points made in the editorial, he believes that the editorial board is mistaken in labeling tax cuts for parents as "income redistribution."

Rubio commends House Ways and Means Chairman Jason Smith for not replicating President Biden's child allowance in the proposed tax reform. However, he believes that the House Republicans can do more. The current deal would index the $2,000 credit per child to inflation, but without a base increase, it would lead to erosion caused by Biden's inflation policies.

Rubio emphasizes the urgency of taking action, as the pro-family tax cuts implemented by Republicans in 2017 are set to expire in 2025. He presents his own proposal for the child tax credit, which would maintain the connection to work while allowing families to receive the credit from their first dollar of earned income. Rubio suggests a rate of 15.3% to offset the combined employee and employer payroll tax liability.

In addition to this, Rubio advocates for a significant increase in the size of the tax credit. He proposes raising it to $3,500 per child, with a higher amount of $4,500 for young children. According to Rubio, providing tax relief for working families is a fundamental aspect of the Republican Party's platform, and it can be achieved in a way that is both pro-work and pro-family.

Rubio concludes his letter by stating that tax reform can indeed be pro-work and pro-family. He highlights the importance of addressing the expiration of the 2017 tax cuts and urges for a more comprehensive approach to support working families through tax relief.

In summary, Senator Marco Rubio has written a letter to the editor of the Wall Street Journal, expressing his views on tax reform. He believes that tax cuts for parents should not be considered as income redistribution and proposes his own plan for the child tax credit. Rubio emphasizes the need to address the expiration of the 2017 tax cuts and advocates for a significant increase in the size of the tax credit. He asserts that tax reform can be both pro-work and pro-family.