Sen. Scott: Americans Should Get Tax Breaks From Tariffs – By Sandy Fitzgerald (Newsmax) / Aug 12 2019
Americans should be given tax relief with the money being collected from tariffs on China, Sen. Rick Scott said Monday.
“Clearly, we’re going to have short-term pain,” the Florida Republican told CNBC’s “Squawk Box.” “We have to stop China from stealing our technology. They have to open up their markets. They’re not a partner. Anything we raise in tariffs, we should give back to the rank and (file) public in tax reductions.”
Further, the United States must help American farmers open more markets around the world,” Scott continued. “We have to understand, they are not our partner.”
U.S. Customs and Border Protection data shows the United States had assessed $23.7 billion in tariffs from early 2018 through May 1, reports CNBC. In addition, Reuters reports tariff revenue rose by 73% in the first half of 2019, compared to one year ago.
President Donald Trump also has announced plans for a 10% tariff on $300 billion of China’s goods that other tariffs did not target.
“I’m not sure what else we can do, other than stand up for American interests and American values,” said Scott. “I’m not sure what the president can do otherwise than the tariffs he is doing.”
He also noted that China’s actions with telecommunications giant Huawei is “not in our best interest,” and marks a national security threat.
“Whether it’s a Republican or a Democrat, everybody has seen that China is our adversary,” said Scott. “We’re spending $4 million a year, through the Peace Corps, teaching Chinese in China to learn English. Why are we doing that? We have to get China to act responsibly. In the meantime, we have to take care of American jobs.”