Julian Castro on How He’ll Pay for His Proposals: ‘Number One, I Would Repeal and Replace the Trump Tax Cuts’

EXCERPT:

RUHLE: "How do you plan to pay for this plan."
CASTRO: "Yeah, so during the course of the campaign, we’re going to release our plan on how we would pay for not only this housing plan but also education and the other plans that I’ve released, but just to give you a preview of that, number one, I would repeal and replace the Trump tax cuts. That’s one part of it, but as you know it is not nearly enough. Secondly, I would close some of the major loopholes in our tax code. I would raise the top marginal tax rate. And then I would look for other ways that we’ve created revenue to fund some of these programs that aren’t necessarily just in the tax code. A very good example of that is the national housing trust fund, which I mentioned in my housing plan. The national housing trust fund is funded by a transaction fee on the government sponsored entities, Fannie Mae and Freddie Mac. Every time they do a transaction a little bit of money goes into a housing trust fund for people that are extremely low income. Basically, people making less than 30 percent of an area median income. That's not directly in the tax code but that is one innovative way that we can fund a housing program. I would look for those opportunities on top of the tax code opportunities to provide revenue for these plans."