Marc Gerson was quoted regarding the proposed tax plan of Senator Ted Cruz as he competes for the Republican Party's nomination in the upcoming presidential election. Senator Cruz's proposal includes a tax exemption on the first $36,000 of income as well as a new "universal savings account," which allows up to $25,000 of tax-deferred savings annually. "No tax on the first $36,000 plus the new USA accounts potentially creates opportunities for lower-income individuals to participate in investment activity," Gerson said. "It may be a new opportunity in the retail market, although perhaps not a particularly profitable one."