Today, Club for Growth President David McIntosh released the following statement regarding Senator Marco Rubio’s (R-FL) new plan that considers higher capital gains taxes on buybacks for the expressed purpose of reducing the occurrence of share repurchases:
“The stated goal by Senator Rubio, and one shared by the Club for Growth, is to increase capital investment. But increasing capital gains tax on stock repurchases so that it is somehow on par with the double taxation penalty placed on dividends is not the answer.
“We agree with Senator Rubio that making pro-growth changes to the tax code – like permanent full expensing – will help achieve more direct investment. But raising taxes to fix whatever perceived inequity may exist in the tax code is not the solution.”