Sen. Marco Rubio, R-Fla., took aim at the recently installed GOP tax plan, telling The Economist in an interview published last week that American workers have yet to see a benefit from the reform package championed by President Donald Trump.
Enacted in late 2017, the Republican-backed overhaul cut the corporate tax rate to 21% from 35%. Proponents of the bill argued that lower tax rates would encourage companies to bring jobs back to America and raise wages and other benefits for employees.
Dozens of companies, including McDonald’s, Apple and Boeing, have given out one-time bonuses, raised minimum wages or added benefits for employees because of tax reform. But Rubio argued the tax cuts have not had a major positive impact on most workers.
“There is still a lot of thinking on the right that if big corporations are happy, they’re going to take the money they’re saving and reinvest it in American workers,” Rubio told the magazine. “In fact, they bought back shares, a few gave out bonuses; there’s no evidence whatsoever that the money’s been massively poured back into the American worker.”
Rubio’s comments came days after the senator praised Trump during an April 16 business roundtable in Miami for “fighting for the American worker.” Rubio mounted a bid for the Republican presidential nomination in 2016, eventually losing to Trump.
Trump touted the success of the Tax Cuts and Jobs Act earlier this month during a speech at the White House Rose Garden, declaring that the cuts have allowed workers to take home more of their pay.
“Married couples won’t pay a dime of income tax on their first $24,000 of income,” Trump said. “A typical family of four earning $75,000 a year will see their tax bill slashed in half. Nobody thought they'd ever see that – have a lot more money to spend.”