ICYMI: Sen. Cruz Promotes Fundamental Tax Reform

WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) today joined Salem Radio’s Mark Davis to discuss his priorities for fundamental tax reform, and his recent New York Times op-ed, where he urged the State Department to re-designate North Korea as a state sponsor of terrorism.

When asked about the progress of tax reform in Congress, Sen. Cruz highlighted his priorities for fundamental tax reform, including lowering rates, expanding immediate expensing, and ending the death tax.

“At this point we know some broad-brush principles,” Sen. Cruz said. “Some of the broad-brush principles that have been put out are pretty good. Cutting the corporate rate to 20 percent - that is a very good thing. Immediate expensing for capital expenditures,’ which allows a farmer who buys a new tractor to expense that, allows a steel factory that installs new equipment to expense that. That is tremendously pro-jobs and good for economic growth. We know that the proposal includes ending the death tax - that is absolutely a good thing. The death tax is horrendously unfair to farmers, and ranchers, and small businesses. We know that they are proposing doubling the standard exemption, which is a big tax cut for every taxpayer. We know that they are proposing lowering rates and allowing most, if not, every American to fill out their taxes on a postcard. All of those are positive things.”

Sen. Cruz continued, “But with tax reform, as with most things, the details matter. And at this point the House Ways and Means Committee has not rolled out the details of what, specifically, are the numbers, when the different rates kick in, what credits or deductions or exemptions they are proposing eliminating to help pay for this. So that is expected to come out either late this week or sometime next week. And when that comes out I expect we will have a robust conversation.” 

When asked about the growing threat of North Korea, Sen. Cruz discussed his legislation urging the State Department to relist the country as a state sponsor of terrorism.

“If you look at North Korea, by any reasonable measure, it is a terrorist state,” Sen. Cruz said. “You look at their horrible treatment of Otto Warmbier, the American citizen, a young man from Ohio, who was a student at UVA. I’ll tell you I met with Otto’s parents recently, it is horrifying what this college kid who was over in North Korea – and look he grabbed a North Korean poster to take in his bag, to take back. I guess he thought it was funny – he was a college kid and it was a prank and they threw him in prison and he lost his life to severe brain damage – it’s just horrifying. And this is a regime that engages in murder, that engages in oppression, that is spreading terror throughout the world. So in the New York Times this week I argued with facts and evidence and details, why the State Department – the only reasonable choice they have under the legislation that I introduced and passed, is to list North Korea as a state sponsor of terrorism, because that’s what they are.”

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