TAXATION

Lee-Rubio Tax Plan Would Jack Up Rates On Middle Income Earners

by LEWIS K. UHLER AND PETER J. FERRARA

INVESTOR’S BUSINESS DAILY

The tax reform plan that Republican Sens. Mike Lee of Utah and Marco Rubio of Florida proposed has been scored as sharply increasing economic growth because of its tax policies for savings, investment and business.

But for personal, individual income taxes, rates in the proposed plan are substantially higher than they need to be, because the plan proposes to sharply increase the current $1,000 child tax credit to $3,500 per child per year.

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