Appears on Mornings with Maria and Hannity to discuss his priorities for fundamental tax reform
Texas Insider Report: WASHINGTON D.C. U.S. Sen. Ted Cruz (R-Texas) appeared on Fox Business Mornings with Maria and Fox News Hannity to discuss his priorities for fundamental tax reform.
When asked about his objectives on tax reform on Mornings with Maria Sen. Cruz discussed the need for tax cuts in addition to major reform.
It is important I believe for Congress to pass a tax cut" Sen. Cruz said. Not just tax reform. There are some congressional Republicans who want this to be whats called revenue neutral. Revenue neutral means if you cut taxes here you jack em up over here so the net is zero. I think thats a mistake. The case Im making to the president the president yesterday said he wanted a big beautiful tax cut the biggest tax cut ever. I think thats exactly right. We need to cut taxes on individuals on families on small businesses. Thats how were going to create jobs. And the only way to do that is to say this is not going to be revenue neutral. This is a tax cut because our priority is jobs."
Sen. Cruz then discussed his preference for a single flat tax.
That would be my preference a single flat tax that is fair and uniform for everyone. A big standard deduction and then everyone pays the same simple rate because I think theres power in bold simplicity. I think going to the postcard has power just because its small. It means Congress cant just go and stick a whole bunch of extra garbage on it. It means you have a lot more time in your life a lot more money in your life to take care of your needs.
On Hannity Sen. Cruz highlighted the importance of full and immediate expensing for hardworking men and women.
Something I called for today is total expensing" Sen. Cruz said. Immediate expensing of capital expenditures. What that does is if youre a farmer it lets you buy a new tractor. If youre a steelworker it lets the company invest in a new steel factory. If youre a truck driver it lets you buy a new truck. We care about jobs here in America. Main Street jobs. Manufacturing jobs. Union jobs. Blue collar jobs. Immediate expensing unleashes incredible growth. I think thats a very important part of tax cuts and tax reforms that were pushing forward."
