Marco Rubio presidential campaign, 2016/Taxes

	; ; Former presidential candidate; Marco Rubio
	Political offices: ; Current U.S. Senator; (2011-Present); FL House of Representatives; (2000-2009)
	Rubio on the issues:
	Taxes • Banking policy • Government regulations • International trade • Budgets • Agricultural subsidies • Federal assistance programs • Foreign affairs • Federalism • Natural resources • Healthcare • Immigration • Education • Abortion • Gay rights • Civil liberties
	Republican candidate:
	Donald Trump
	Ballotpedia's presidential election coverage; 2028 • 2024 • 2020 • 2016

Marco Rubio suspended his presidential campaign on March 15, 2016.^[1]

Ballotpedia's scope changes periodically, and this article type is no longer actively created or maintained. It may also contain neutrality issues.

This page was current as of the 2016 election.

Marco Rubio unveiled a transportation plan November 5, 2015, that called for an 80 percent cut in the 18.4 cents-per-gallon gas tax that pays for most federal transportation projects. He also promised to veto any gas tax if elected president, in a post on his campaign website. Rubio said the federal transportation program would be replaced by devolving the system to the states, which take the lead on financing transportation projects. He also would repeal the Davis-Bacon Act that requires workers to be paid prevailing wages on projects funded with federal dollars.^[2]

On November 3, 2015, Rubio responded to a report from the Tax Foundation, a think tank that advocates for lower taxes, that found his tax plan would “decrease government revenues by $6 trillion over 10 years.” Rubio said, "The argument about the debt, which is the question that he's raising, you cannot simply solve that through a tax plan alone. It has to be a combination of things. You have to have the spending discipline on the mandatory spending programs and you need to sustain significant economic growth. The tax plan is part of the economic growth part of that equation...in conjunction with that, we must deal with the mandatory spending programs. Medicare and Social Security must be reformed for future beneficiaries, people like me, who are 25 years away from retirement. You have to do both. And it's that combination of sustained growth and fiscal discipline that will bring the national debt to a responsible level as a percentage of the overall size of our economy. But without the growth you can't get there. You can't get there from cuts alone. But you need the growth component. And that's what the tax plan is designed to do."^[3]

Rubio argued for the elimination of capital gains taxes in an interview with CNBC’s John Harwood in August 2015. “First of all, capital gains and dividends is investment. My father had a job as a bartender at a hotel. And the reason why he had a job as a bartender is because someone with money invested in that hotel. That’s why he had a salary, and that’s why he had tips. … Anything you tax, you’re gonna get less of. That’s why we tax cigarettes, because we don’t want people to smoke. We want more investment. Why would we tax it?”^[4]^[5]

Marco Rubio and Mike Lee unveil their tax reform plan March 4, 2015

Rubio introduced his tax overhaul plan on March 4, 2015 as a Senate bill. It was cosponsored with U.S. Sen. Mike Lee (R-Utah). The proposal would reduce the number of brackets from seven to three: 15%, 25%, and 35% and eliminate all exemptions and deductions, except for a charitable contribution deduction and a reformed home mortgage interest deduction. Instead, taxpayers would receive a personal tax credit that phases out for higher-income Americans. The plan would cuts corporate tax rates for all businesses to no higher than 25%, and end federal taxation of business investment by allowing for immediate expensing. Rubio also proposed shifting to a territorial tax system, ending the double-taxation of profits earned abroad for both businesses and individuals. The plan would also eliminate the double-taxation on saving and investment income and would provide a transition period during which the nation would move to a 0% tax rate on dividends and capital gains. Rubio would also eliminate the estate tax. The plan would provide a new child tax credit of up to $2,500, which phases out for wealthier Americans and would offer a limited 25% non-refundable tax credit to any business that offers between four and twelve weeks of paid leave to workers with qualifying family or medical issues, such as, a newborn child in need of care, an elderly parent with declining health, a personal health crisis, or a spouse’s deployment.^[6] ^[7] ^[8]

In March 2013, Marco Rubio voted to repeal the medical device tax, which is part of the Affordable Care Act.^[9]

Rubio voted against H.R. 8 - the American Taxpayer Relief Act of 2012, which made permanent most of the Bush tax cuts originally passed in 2001 and 2003, while also raising tax rates on the highest income levels.^[10]

In 2011, Rubio and Senator Chris Coons (D-Del.) introduced the American Growth, Recovery, Empowerment and Entrepreneurship Act, also known as the AGREE Act. The bill sought to extend tax credits and exemptions for businesses investing in research and development, provide a tax credit for veterans who start a business franchise, protect intellectual property, remove some regulations and implement other pro-jobs proposals.^[11]

Rubio opposed the American Jobs Act of 2011 because it included a $453 billion tax hike on businesses and a 3.8 percent Medicare tax on unearned income.^[12]

Rubio signed the Americans for Tax Reform “Tax Payer Protection Pledge” as a member of Congress and as a state legislator.^[13]

In 2007, while serving in the Florida legislature, Rubio proposed an initiative to raise the sales tax. The funds were to be used to eliminate property taxes in the state.^[14]

As a West Miami City Commission council member, he voted to increase property tax collections in 1998 and 1999.^[15]

Recent news

This section links to a Google news search for the term Marco + Rubio + Taxes