Florida US Senator Marco Rubio Introduces Bill To Remove Tax Breaks For 'Woke' Corporations
MIAMI (CBSMiami) - U.S. Senator Marco Rubio has introduced a bill that 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.
"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," said Senator Rubio.
The bill, the No Tax Breaks for Radical Corporate Activism Act, responds to recent announcements from several large corporations, including Amazon, Disney, Citigroup, Lyft, Yelp, Uber, Bumble, and Salesforce.
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, if it becomes law, would 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.
