Tuesday, September 15, 2020

OPINION_ Sen. Marco Rubio: Biden's economic plan is inconsistent, outdated and weak. This is not a serious blueprint

FOX NEWS

OPINION
Published 45 mins ago

Sen. Marco Rubio: Biden's economic plan is inconsistent, outdated and weak. This is not a serious blueprint

OPINION - By Sen. Marco Rubio | Fox News





Is the Biden campaign running away from policy issues that matter to Americans?


After decades of cheering on a rising China, Democratic presidential nominee Joe Biden is now scrambling to show he cares about the destruction of millions of American jobs and the erosion of our industrial base.

His latest plan is inconsistent and outdated, revealing a desperation to reclaim the high ground of supporting American industry for a political party that has long since left it behind.

Early on, Biden backed himself into a corner by promising to remove President Trump’s tariffs on China.


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Now, he is proposing a new plan that would increase taxes on American companies’ sales abroad by repealing portions of the 2017 tax law. Led by reflexive partisanship, he has embraced a contradictory position of increasing imports of Chinese goods but reducing American exports.

Biden’s plan would do this by overturning one of the important policies enacted by the 2017 Tax Cuts and Jobs Act-- the transition from a worldwide to a territorial tax system. Rather than taxing the income that American businesses earn on their sales in other countries twice as the Biden plan would, the Tax Cuts and Jobs Act largely exempted those sales from tax.

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READ MORE: https://www.foxnews.com/opinion/sen-rubio-biden-economic-plan-weak-blueprint



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