WASHINGTON, D.C. – Today, Senator Rick Scott released the below statement following remarks by Treasury Secretary Janet Yellen this week advocating for a global minimum corporate tax rate. In addition to his proposal to raise America’s corporate tax rate from 21% to 28%, President Biden is also proposing to double the taxes paid by corporations on foreign income from 10.5% to 21%.

Senator Rick Scott said, “President Biden has made his vision for America clear: the days of exceptionalism are gone – welcome to the age of America Averageness. As a former governor, I know how important tax policy is to growing the economy and creating jobs. In Florida, we cut taxes 100 times and in the eight years I was Governor, businesses created 1.7 million new private sector jobs – each helping a Floridian and their family live their dreams in our state. The United States should serve as the world’s leader in business, innovation and growth, but under the Biden-Yellen economic regime, we are in a race to mediocrity while surrendering America’s economic sovereignty. These taxes will directly hurt American families. As our nation recovers from this devastating global pandemic, the last thing we need is Joe Biden raising taxes at home and encouraging others to do so abroad. I will not support these radical anti-American policies and will do everything in my power to lead the efforts to defeat these bad ideas in the Unites States Senate.”

###
Issues