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Ted Cruz on Corporations
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End sugar subsidies and corporate welfare
I mention 25 programs that I would eliminate. Among them is corporate welfare, like sugar subsidies. Let's take that as an example. Sugar farmers farm under roughly 0.2% of the farmland in America, and yet they spend 40% of
the lobbying money. That sort of corporate welfare is why we're bankrupting our kids, and grandkids. I would end those subsidies to pay for defending this nation.
Source: Fox Business/WSJ Second Tier debate
, Nov 10, 2015
Business flat tax of 16%; big business same as small
I rolled out my tax plan today. It is a simple flat tax where a family of four pays nothing on the first 36,000. After that, you pay 10 percent of the flat tax going up.
The billionaire and the working man. No hedge fund manager pays less than his secretary. On top of that, there is a business flat tax of 16 percent. That applies universally to giant corporations and to small businesses.
Source: GOP "Your Money/Your Vote" 2015 CNBC 1st-tier debate
, Oct 28, 2015
Slash corporate tax rates to 15 percent
Cruz says he would slash corporate tax rates to 15 percent, and would end some programs like the Export-Import bank and federal subsidies for renewable fuels.Cruz is a proponent of a simpler tax code (with no IRS). As part of that, he would end some
current tax breaks and lower tax rates. In the case of corporations, he would lower their current maximum rate of 35 percent (with deductions) to 15 percent (with fewer or no deductions).
Source: PBS News Hour "2016 Candidate Stands" series
, Mar 23, 2015
Get senseless obstacles from Washington out of the way
Senator Cruz promised to champion jobs and economic opportunity and get "senseless obstacles from Washington out of the way." He called for repealing President Barack Obama's Affordable Care Act and abolishing the
Internal Revenue Service, joking he would enforce security on the nation's southern border by sending all 110,000 IRS employees there.
Source: Des Moines Register on 2015 Iowa Freedom Summit
, Jan 24, 2015
Page last updated: Jul 09, 2016