Lee’s full statement…

“As I announced upon its introduction, the Family Fairness and Opportunity Tax Reform Act was meant as a first draft of a broader project to make the entire tax code simpler, fairer, and more pro-growth.

Initial estimates suggested the plan would yield a modest overall tax cut compared to the pre-Obamacare baseline. TPC’s model scores it somewhat lower than that, and that’s valuable information we can incorporate into the next revision.

Senator Marco Rubio and I have already begun work on a new, comprehensive, pro-family, pro-growth tax reform proposal that we hope to introduce later this year. Elimination of the Parent Tax Penalty should be a top priority for conservatives, and at the center of the overdue tax reform debate.”