Sens. Mike Lee and Marco Rubio roll out a tax code overhaul that would consolidate existing tax brackets and provide for a per-child credit for parents.
Write the senators in a Wall Street Journal op-ed:
Six years after the Great Recession officially ended, most Americans can sense that the U.S. economy is still operating below its full potential. Far too many Americans remain unemployed, underemployed or stuck in jobs with stagnant wages and narrow horizons.
Many are beginning to wonder: Is this the new normal?
We don’t believe it is. We believe that America’s best days are still ahead. But we also recognize that restoring the shared prosperity that comes from a strong economy requires reforming the most antiquated and dysfunctional government policies, beginning with the federal tax system.
The tax code’s failures are manifold—impeding growth, discouraging investment, and restricting freedom on the business and the individual side—but they are all rooted in the same fundamental unfairness and inequity of a government that picks winners and losers.
A tax code that works for, not against, American businesses, families and individuals must be built on the twin pillars of equal opportunity and fair treatment for all.
That was precisely our objective when we joined together to design a comprehensive tax-reform plan. We built our plan on the simple, yet powerful, truths at the heart of the free-enterprise system: that economic growth is a function of economic freedom, and that economic freedom depends on equal opportunity and fair treatment under the law.
