This week, U.S. Sen. Marco Rubio, R-Fla., introduced the “No Tax Breaks for Radical Corporate Activism Act.”
Rubio’s office offered some of the details of the proposal.
“The bill would prohibit employers from deducting expenses related to their employees’ abortion travel costs or so-called ‘gender affirming care’ for young children of their employees,” Rubio’s office noted. “Under current tax law, businesses can deduct all expenses that are ‘ordinary and necessary’ for carrying on a trade or business, including employee health care plans, some medical expenses, or other benefits offered as a part of an employee compensation package. This bill would explicitly prohibit employers from deducting – and, as a result, taxpayers from subsidizing – their employee’s travel costs to obtain an abortion or employee’s children’s gender transition expenses.”
Rubio pointed to “Amazon, Disney, Citigroup, Lyft, Yelp, Uber, Bumble and Salesforce” as some of the companies that could be impacted by his proposal.
“Our tax code should be pro-family and promote a culture of life. Instead, too often our corporations find loopholes to subsidize the murder of unborn babies or horrific ‘medical’ treatments on kids. My bill would make sure this does not happen,” Rubio said.
The bill was sent to the U.S. Senate Finance Committee. So far, there are no Senate co-sponsors and no companion measure over in the U.S. House. With Democrats controlling both chambers on Capitol Hill, Rubio will have a hard time passing the bill this year.
