Sen. Ted Cruz of Texas said that his plan to overhaul the federal tax code — which calls for a 10 percent tax on personal income and 16 percent on business income — could help spur economic growth.
“From 2008 to today our economy has grown 1.2 percent a year on average, the Obama economy is disaster and the IMF is telling us it is the new normal. It doesn’t have to be,” Mr. Cruz said.
Mr. Cruz said the nation must overhaul the federal tax code, reduce federal regulations and return to “sound money.”
“We have done it before and with leadership we can do it again,” he said.
• Seth McLaughlin can be reached at smclaughlin@washingtontimes.com.
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