On Friday, in a recent interview with Senator Marco Rubio (R-Fla.), he admitted the GOP tax bill “probably went too far” to help corporations.
This kind of talk comes over a week after he voted in favor of the bill and help send it over to Trump’s desk.
Rubio stated, “If I were king for a day, this tax bill would have looked different. I thought we probably went too far on [helping] corporations.
He expected the bill would make corporations pay out higher dividends to shareholders and buy back shares that would increase their stock price.
Rubio continued, “By and large, you’re going to see a lot of these multinationals buy back shares to drive up the price. Some of them will be forced, because they’re sitting on historic levels of cash, to pay out dividends to shareholders. That isn’t going to create dramatic economic growth.”
The GOP bill that Rubio supported was passed just before Christmas that lowered corporate tax rate from 35 percent to 21 percent.
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Republicans had argued that the tax cut would result in boosting wages and create more jobs.
However, Rubio thinks that the bill is a huge improvement compared to the previous system.
He also believes that Americans will like the tax bill once the changes kick in, even though polls revealed that very few people supported the GOP tax bill.
Rubio stated, “Opinion today is based on what they’ve read and what they’ve been told it does. But if I’m against the tax bill because I don’t think it’ll actually cut my taxes and I get my first paycheck in February and it has $200 in there that didn’t used to be there, I’m going to notice that.”
He continued, “By the time we get to November of next year, their opinion about the tax bill is not going to be based on media coverage. It’s going to be based on what their paycheck is telling them.”
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