Alabama Republican Sen. Tommy Tuberville is proposing legislation regulating investment in private companies.
Sen. Tommy Tuberville (R-AL) argued on Tuesday that taxes on corporations cannot be increased because “we can’t put laws on private companies.” Increasing the corporate tax rate to fund social services, Tuberville said, would also cause companies to leave the United States.
Tuberville made his comments during an appearance on Fox Business’ “Mornings with Maria” to promote his Prohibiting TSP Investment in China Act, which would prohibit the federal Thrift Savings Plan pension fund from investing “in any security of an entity based in China or in a subsidiary that is owned or operated by a Chinese company,” as he said in an opinion piece published by the Wall Street Journal on May 17.
While arguing that “something has to be done” about the investments, Tuberville said, “The one thing that can’t be done is we can’t raise the corporate income tax.” Continue reading.