Press Release: Rubio Tax Increase Will Harm Retail Investors and Retirement Savers
WASHINGTON – The American Securities Association (ASA) today strongly urges Senator Marco Rubio (R-FL) to reevaluate his proposal to both raise the capital gains tax rate on savers and replace the decision-making of business owners with new mandates from the federal government.
“Senator Rubio’s proposal will increase taxes on retail investors and retirement savers, making it harder for working families to get ahead financially,” said ASA CEO Chris Iacovella. “Businesses of all sizes should have the ability to allocate their capital as they see fit—whether that’s through dividends, share buybacks, investment in R&D and capital projects, or any other way that ultimately benefits their investors. There is no room in this paradigm for the government to mandate how a business should allocate its capital.”