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Lee and Rubio Working on New 'Pro-Growth, Pro-Family' Tax Reform Plan

12:02 PM, Mar 7, 2014 • By JOHN MCCORMACK
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The Tax Policy Center, a project of the liberal-leaning Urban Institute and Brookings Institution, released a new analysis this week of Senator Mike Lee's family-friendly tax reform plan. According to TPC, the Utah Republican's plan would reduce federal revenues by $2.4 trillion over 10 years, a much larger reduction than suggested by initial estimates.

In a statement to THE WEEKLY STANDARD today, Lee responded to TPC's analysis and announced that he's already working with Florida senator Marco Rubio on a "new, comprehensive, pro-family, pro-growth tax reform proposal that we hope to introduce later this year."

Lee's full statement: 

I thank the Tax Policy Center for their thorough work on my initial proposal to reform the individual income tax code and restore tax fairness to middle-class parents and families.

As I announced upon its introduction, the Family Fairness and Opportunity Tax Reform Act was meant as a first draft of a broader project to make the entire tax code simpler, fairer, and more pro-growth.

Initial estimates suggested the plan would yield a modest overall tax cut compared to the pre-Obamacare baseline. TPC's model scores it somewhat lower than that, and that's valuable information we can incorporate into the next revision.

Senator Marco Rubio and I have already begun work on a new, comprehensive, pro-family, pro-growth tax reform proposal that we hope to introduce later this year. Elimination of the Parent Tax Penalty should be a top priority for conservatives, and at the center of the overdue tax reform debate.

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