Rubio's Tax Proposals Seen Risking ‘Unsustainable’ Deficits
- Plans call for 0% capital gains tax and lower rates for all
- Campaign slams Tax Policy Center's analysis as `worthless'
Republican presidential candidate Marco Rubio and adviser Todd Harris look at news reports about the campaign on Harris' phone before a town hall meeting at the Southside Christian School on Feb. 11, 2016, in Simpsonville, South Carolina.
Photographer: Chip Somodevilla/Getty ImagesWhile presidential candidate Marco Rubio’s tax proposals would put more money in taxpayers’ wallets and in business coffers, their benefits would be concentrated at the top end of the income scale, and they could produce large, “unsustainable, budget deficits," according to a policy group’s analysis.
The Republican contender’s proposals, which include eliminating taxes on capital gains and reducing the top corporate and individual tax rates, would reduce federal revenue by $6.8 trillion over the next 10 years, according to a report by the Tax Policy Center. The center is a joint project between two Washington nonprofit research groups, the Urban Institute and the Brookings Institution.