CNBC Transcript: CNBC Chief Washington Correspondent John Harwood Speaks with Florida Senator Marco Rubio Today on CNBC’s “Fast Money Halftime Report”

WHEN: Today, Monday, October 5th

WHERE: CNBC's "Fast Money Halftime Report"

Following is the unofficial transcript of a CNBC interview with Florida Senator Marco Rubio on CNBC's "Fast Money Halftime Report" (M-F, 12PM-1PM ET) today. Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000429066.

All references must be sourced to CNBC.

SCOTT WAPNER: BACK LIVE AT LIBERTY NATIONAL TODAY. REPUBLICAN PRESIDENTIAL CANDIDATE MARCO RUBIO RISING IN THE POLLS AMONG VOTERS. THE LATEST NBC/WALL STREET JOURNAL POLL SHOWING HIM IN DOUBLE DIGITS, TYING FOR THIRD PLACE WITH CARLY FIORINA. DONALD TRUMP FOLLOWED BY BEN CARSON STILL LEADING THE PACK. THE FLORIDA SENATOR JOINS US NOW ON SET TO TALK STRATEGY ALONG WITH OUR CHIEF WASHINGTON CORRESPONDENT JOHN HARWOOD. JOHN, TAKE IT AWAY.

JOHN HARWOOD: THANKS, SCOTT. WE'VE GOT SENATOR RUBIO HERE, WHO, AS YOU SAID, IS DOING WELL IN THE POLLS. IT'S AN AUSPICIOUS MOMENT FOR YOUR CAMPAIGN. LET ME START BY ASKING YOU ABOUT A LITTLE NEWS TODAY. TRANSPACIFIC PARTNERSHIP CONCLUDED. YOU GOING TO VOTE FOR IT?

MARCO RUBIO: WELL, WE HAVE TO SEE THE DETAILS OF IT. I'M GENERALLY VERY MUCH IN FAVOR OF FREE TRADE. I EXPLAIN TO PEOPLE ALL THE TIME THE UNITED STATES CANNOT GET LOCKED OUT OF 95% OF THE WORLD'S CONSUMERS. I WANT TO LOOK AND SEE HOW THE TRADE AGREEMENT DEALS WITH NONTARIFF BARRIERS TO TRADE. I'M INTERESTED IN THOSE SORTS OF THINGS. BUT THE DETAILS OF IT ARE WHAT WE NEED TO UNDERSTAND BEFORE WE CAN COMMIT TO VOTING FOR SOMETHING. BUT GENERALLY, IT'S VERY POSITIVE.

HARWOOD: BUT A LOT OF THIS HAS BEEN KNOWN, SO FAR.

RUBIO: WELL, PARTS OF IT HAVE. PARTS OF THE DEAL, AS YOU KNOW, REMAIN, I WOULDN'T SAY CLASSIFIED, BUT HAVE NOT BEEN MADE PUBLIC AND WE GOT A CHANCE TO SEE SOME OF IT. BUT ULTIMATELY, WE WANT TO SEE WHAT THE FINAL AGREEMENT ARE. BUT GENERALLY, I'M DISPOSED TO BEING IN FAVOR OF TRADE AGREEMENTS. BUT AGAIN, I WANT TO SEE THE DETAILS BEFORE I MAKE A FIRM COMMITMENT.

HARWOOD: LET ME ASK YOU ABOUT ONE OTHER THING IN THE NEWS THAT CAME OUT THE OTHER DAY. BEN BERNANKE, THE FORMER FED CHAIR, SAID HE REGRETTED AND THOUGHT IT WAS WRONG THAT INDIVIDUAL WALL STREET EXECUTIVES DID NOT GET PROSECUTED AND GO TO JAIL AS A RESULT OF THE FINANCIAL CRISIS. THERE WERE SOME PROSECUTIONS OF FIRMS AND SETTLEMENTS WITH FIRMS, BUT NOT INDIVIDUALS. DO YOU AGREE WITH HIM?

RUBIO: I'M NOT NECESSARILY A PERSON THAT'S LOOKING FOR THAT SORT OF THING UNLESS OBVIOUSLY IT'S AN EGREGIOUS CASE AND A CLEAR CRIMINAL VIOLATION. I'M NOT SURE WHAT THAT WOULD HAVE SOLVED AT THE END OF THE DAY.

HARWOOD: DON'T A LOT OF THOSE EVERY DAY AMERICANS THAT YOU'RE COURTING IN THE CAMPAIGN THINK THAT SHOULD HAVE HAPPENEDED?

RUBIO: WELL AGAIN, I THINK IT'S IMPORTANT BEFORE WE GO OUT ON A WITCH HUNT AND SAY WE SHOULD HAVE PROSECUTED SO AND SO, THERE'S A CASE – IS THERE WRONGDOING AND YOU CAN PROVE THE WRONGDOING, THAT'S ONE THING. BUT TO SAY THE SOLUTION TO THIS PROBLEM IS TO INDISCRIMINATELY BEGIN TO ACCUSE PEOPLE, I'M NOT SAYING THAT WAS WHAT BEN BERNANKE WAS SAYING, BUT I THINK WE HAVE TO BE CAUTIOUS ABOUT THAT AS WELL. IN MANY INSTANCES, IT WAS IRRESPONSIBLE. THERE WAS NO DOUBT IT WAS IRRESPONSIBLE BEHAVIOR. BUT THERE'S A DIFFERENCE BETWEEN IRRESPONSIBLE BEHAVIOR THAT YOU'RE ACCOUNTABLE TO A BOARD AND SHAREHOLDERS FOR, AND CRIMINAL BEHAVIOR.

HARWOOD: FAIR ENOUGH. BUT LEAVE ASIDE THE ISSUE OF A WITCH HUNT, DOES IT BOTHER YOU THAT NO ONE GOT PROSECUTED?

RUBIO: WELL, CERTAINLY. I THINK IT'S SOMETHING WORTH EXAMINING MOVING FORWARD. AND THAT IS, IN THAT SAME INSTANCE, IF SOMEBODY HAD DONE WHAT THEY HAD DONE IN A SMALLER BUSINESS SETTING WITHOUT THE CONNECTIONS SOME OF THESE FOLKS HAD WOULD THEY HAVE BEEN TREATED DIFFERENTLY? I THINK THAT'S A VALID QUESTION.

HARWOOD: ONE CONSEQUENCE OF RISING IN THE POLLS IS THAT YOU START SEEING YOUR RIVALS ENGAGE WITH YOU MORE. JEB BUSH HAS RAISED THE ISSUE OF YOUR LEADERSHIP. SUGGESTED YOU WERE A LITTLE OBAMA-ISH. WHAT DO YOU SAY ABOUT THAT?

RUBIO: YEAH. WELL FIRST OF ALL, I DON'T THINK ANYONE RUNNING AT THE REPUBLICAN SIDE IS ANYTHING LIKE BARACK OBAMA. AND WHEN PEOPLE SAY THAT, WHAT THEY'RE ACCUSING HIM OF IS HE DIDN'T HAVE ENOUGH EXPERIENCE OR HE WAS A SENATOR. HE'S BEEN PRESIDENT NOW FOR SEVEN YEARS. HE HAS SEVEN YEARS OF PRESIDENTIAL EXPERIENCE AND I STILL DISAGREE WITH THE DECISIONS HE'S MAKING. I THINK IT'S DEEPER THAN THE NUMBER OF YEARS. IF HE HAD BEEN IN THE SENATE FOR 50 YEARS, I THINK HE STILL HAVE WOULD MET SOME OF THE FAILURES HE'S MEETING BECAUSE HIS IDEAS DON'T WORK. THEY JUST DON'T WORK.

HARWOOD: WHAT ABOUT THE CHARGE ABOUT MISSING SO MANY VOTES IN THE SENATE? YOU'RE HEARING THAT FROM MULTIPLE OF YOUR RIVALS. AND SOME OF YOUR CONSTITUENTS ARE GOING TO HEAR THAT –

RUBIO: YES, BUT MY –

HARWOOD: THE VOTERS ARE GOING TO HEAR THAT AND SAY, WAIT A MINUTE, WE'RE PAYING THE GUY. HE'S NOT THERE TO CAST VOTES. WHAT DO YOU SAY?

RUBIO: SO A COUPLE OF POINTS. NUMBER ONE, BEING A SENATOR IS MORE THAN JUST CASTING A VOTE. THAT'S PROBABLY THE FASTEST PART OF THE JOB. THE DEEPER PART OF THE JOB FOR EXAMPLE IS THE CONSTITUENT SERVICE WHICH WE STILL PROVIDE ACROSS EIGHT OFFICES IN FLORIDA AND I'M VERY PROUD OF THE WORK WE DO THERE. IF THERE'S A VOTE WHERE MY VOTE IS GOING TO MAKE A DIFFERENCE, OR AN ISSUE OF MAJOR NATIONAL SIGNIFICANCE AND IMPORTANCE, WE DO EVERYTHING POSSIBLE TO BE THERE. AND IN FACT, WE HAVE CANCELLED EVENTS TO MAKE IT TO THOSE. BUT I AM GOING TO MISS VOTES. I AM RUNNING FOR PRESIDENT. AND OTHER SENATORS THAT HAVE RUN IN THE PAST HAVE AS WELL. AND IT IS IMPORTANT TO UNDERSTAND WHEN I MISS A VOTE, IT IS NOT BECAUSE I'M OUT PLAYING GOLF. WE'RE OUT CAMPAIGNING FOR THE FUTURE OF AMERICA, WHERE I BELIEVE I CAN MAKE MORE OF A DIFFERENCE AS PRESIDENT THAN I COULD AS A SENATOR.

HARWOOD: NOW, TRUMP HAS BEEN ALSO INCREASINGLY TARGETING YOU. AND ONE OF THE THINGS THAT ONE OF HIS ADVISERS TOLD ME TODAY THAT YOU'RE SIMPLY – YOU'RE RUNNING AS A 21st CENTURY REPUBLICAN, BUT YOU'RE REALLY A COOKIE CUTTER CHAMBER OF COMMERCE REPUBLICAN, AS THE ADVISER SAID, JEB BUSH WITHOUT THE HONESTY. TALK ABOUT THAT.

RUBIO: OK. FIRST OF ALL, I HAVE THE MOST DETAILED POLICY AGENDA OF ANYONE WHO IS RUNNING AND BY NO MEANS IS COOKIE CUTTER ANYTHING. IT'S A 21st CENTURY AGENDA.

HARWOOD: ANYTHING THAT YOU DISAGREE WITH GEORGE W. BUSH OR MITT ROMNEY ON?

RUBIO: WELL, WE'RE IN A DIFFERENT ERA. FOR EXAMPLE, MY POLICIES ARE ABOUT TAKING FREE ENTERPRISE AND LIMITED GOVERNMENT, BUT APPLYING THEM TO THE UNIQUE CHALLENGES OF THE 21STCENTURY. SO YOU'LL HEAR ME SPEND A TREMENDOUS AMOUNT OF TIME TALKING ABOUT HIGHER EDUCATION REFORM. OUR HIGHER EDUCATION MODEL IS OUTDATED. AND I PROPOSED CONCRETE BIPARTISAN IDEAS ABOUT HOW TO FIX SOME OF THOSE THINGS. WE'RE IN AN ERA NOW OF INCREASED GLOBAL COMPETITION WHERE AMERICA NO LONGER CAN PUT IN PLACE POLICIES BECAUSE WE THINK IDEOLOGICALLY IT'S A GOOD OR BAD IDEA. THE FUNDAMENTAL QUESTION IS DOES IT MAKE US COMPETITIVE AGAIN. AND ON MANY OF THOSE ISSUES, I'VE OFFERED SOLUTIONS AND IDEAS THAT NO REPUBLICAN'S EVER TALKED ABOUT BEFORE BECAUSE THEY WERE NOT PART OF THE 20th CENTURY DEBATE.

HARWOOD: LET ME ASK YOU ABOUT A TAX QUESTION. ALL OF YOU GUYS HAVE GOT TAX PLANS. ALL OF YOU HAVE ABANDONED THE GUARDRAIL OF MAKING A DEFICIT NEUTRAL THAT MITT ROMNEY RAN ON IN 2012. IF THAT'S THE CASE, IF TRUMP'S PLAN, IF JEB'S PLAN, IF MARCO'S PLAN ALL ADD TO THE DEFICIT, WHY NOT, IF YOU'RE A REPUBLICAN VOTER, WHY NOT GO WITH TRUMP'S OR JEB'S WHO HAVE MUCH LOWER TOP RATE THAN YOU? YOU STAY AT 35, THEY GO TO 28 AND 25.

RUBIO: YEAH, A COUPLE POINTS. NUMBER ONE, MY RATE ON THE TOP END, I TAKE ALL BUSINESS INCOME, INCLUDING S CORPORATIONS, AND TAX IT ONLY AT 25%. THAT'S A SIGNIFICANT AMOUNT OF SMALL BUSINESS IN AMERICA TODAY PAYING ON THEIR PERSONAL RATE AS HIGH AS 39.5%. THEY WOULD ONLY PAY 25.

HARWOOD: TRUMP SAYS 15%.

RUBIO: WELL, BUT HERE'S THE POINT. WITHIN TEN YEARS, WITHIN THE TEN-YEAR WINDOW, MY PLAN BEGINS TO CREATE A SURPLUS. THE SECOND POINT I'D MAKE TO PEOPLE IS, YOU CAN'T TAX YOUR WAY INTO A STABLE BUDGET.

HARWOOD: WAIT, YOUR PLAN CREATES A SURPLUS BECAUSE OF THE DYNAMIC EFFECT?

RUBIO: ABSOLUTELY. THE COMBINATION OF GROWTH –

HARWOOD: BUT WHY ISN'T THEIR PLAN MORE DYNAMIC BECAUSE THEY TAKE THE TOP RATE DOWN LOWER?

RUBIO: IT DOESN'T. THE NUMBERS DON'T ADD UP. IF YOU LOOK AT IT, MY PLAN IN THE TENTH YEAR BECOMES REVENUE POSITIVE, BUT IT'S DEEPER THAN THAT. HERE'S MY POINT. THE BUDGET CANNOT BE BALANCED SIMPLY ON TAX REFORM. TAX REFORM IS ABOUT GENERATING GROWTH, WHICH MY PLAN DOES WITH IMPRESSIVE NUMBERS. BUT YOU ALSO HAVE TO DO ENTITLEMENT REFORM. YOU CAN'T CUT YOUR WAY OUT OF THIS AND YOU CAN'T TAX YOUR WAY OUT OF THIS.

HARWOOD: TRUMP SAYS YOU DON'T HAVE TO. YOU GROW THE ECONOMY, YOU WON'T NEED TO TOUCH THEM.

RUBIO: WELL, THAT'S JUST NOT TRUE. THE NUMBERS DON'T ADD UP. YOU'VE GOT TO DO ENTITLEMENT REFORM. THE GROWTH OF MEDICARE AND SOCIAL SECURITY OVER THE NEXT 15 YEARS, THERE'S NO REASONABLE GROWTH RATE THAT WILL HELP MEET THAT. JUST BECAUSE OF POPULATION TRENDS AND DEMOGRAPHICS. SO THOSE PROGRAMS HAVE TO BE REFORMED. IF WE WANT NOT JUST TO SAVE THOSE PROGRAMS, BUT BALANCE OUR BUDGET. BUT YOU HAVE TO DO BOTH.

HARWOOD: ONE MORE QUESTION ON IMMIGRATION. YOU PUSHED THAT SENATE BILL THAT HAD PATH TO CITIZENSHIP AFTER A NUMBER OF YEARS THAT ENDED WITH PEOPLE – THEY HAD TEN YEARS THEY COULD APPLY FOR A GREEN CARD, RIGHT?

RUBIO: RIGHT, SOME OF THEM. RIGHT. THE ONES THAT QUALIFY.

HARWOOD: THAT'S RIGHT. AND YOU'VE SAID MORE RECENTLY YOU SUPPORT LETTING THEM GO FOR A GREEN CARD STILL. BUT NO SPECIAL PATH. AS YOU KNOW, THE SENATE BILL HAD A SPECIAL PATH. THEY CALLED IT THE SHAM WOW PROVISION BECAUSE IF YOU DON'T HAVE A SPECIAL PATH, THOSE PEOPLE ARE NEVER GOING TO GET THE GREEN CARDS. DO YOU STILL SUPPORT THAT PROVISION?

RUBIO: NO, BECAUSE WE CAN'T PASS IT. THE BOTTOM LINE IS I WANT TO SOLVE IMMIGRATION.

HARWOOD: SO YOU'RE AGAINST THAT –

RUBIO: YEAH, BECAUSE WE CAN'T SOLVE IT. WE WON'T BE ABLE TO GET A RESULT. WE'VE BEEN DEBATING IMMIGRATION POLICY IN THIS COUNTRY FOR CLOSE TO 30 YEARS. AND HERE, THERE ARE TWO POINTS. NUMBER ONE, WE CAN'T DO THIS ALL IN ONE BIG PIECE OF LEGISLATION. I'M CONVINCED OF THAT MORE THAN EVER.

HARWOOD: BUT SO DOESN'T THAT MEAN ALL THOSE PEOPLE WILL NOT GET GREEN CARDS –

RUBIO: WELL, LET ME TELL YOU SOMETHING. I HAVE ALWAYS SAID THAT I'M OPEN TO PEOPLE HAVING ACCESS TO APPLY FOR A GREEN CARD. I DON'T THINK IT'S GOOD FOR AMERICA TO HAVE MILLIONS OF PEOPLE HERE PERMANENTLY LIVING IN THE COUNTRY WHO CAN NEVER BECOME AMERICANS. THERE'S A SIGNIFICANT NUMBER OF PEOPLE OUT THERE WHO BELIEVE THAT THEY SHOULD NEVER GET THAT. THEY SHOULD ONLY BE ALLOWED TO HAVE A WORK PERMIT. SO THAT DEBATE IN AND OF ITSELF IT IS NOT GOING TO BE EASY. BUT IF YOU CREATE A SPECIAL PATHWAY, YOU MAKE IT IMPOSSIBLE TO DO ANYTHING ON IMMIGRATION BECAUSE THE ARGUMENT YOU HEAR FROM PEOPLE IS WHY SHOULD SOMEONE WHO CAME ILLEGALLY BE ABLE TO ACCESS CITIZENSHIP OR A GREEN CARD FASTER THAN SOMEONE WHO CAME HERE LEGALLY. AND IT'S A VERY VALID ARGUMENT AND ONE THAT WILL SERVE AS A STRONG IMPEDIMENT TO MAKING PROGRESS ON IMMIGRATION.

HARWOOD: ONE FOREIGN POLICY QUESTION. AND I'M GOING TO TOSS IT BACK TO SCOTT WHO HAS A QUESTION FOR YOU AS WELL. YOU SUPPORT A NO-FLY ZONE IN SYRIA.

RUBIO: I SUPPORT A SAFE ZONE IN SYRIA THAT INCLUDES A NO-FLY ZONE, CORRECT.

HARWOOD: WOULD YOU BE WILLING TO ENGAGE IN MILITARY CONFLICT WITH THE RUSSIANS WHO ARE NOW FLYING BOMBING MISSIONS OVER SYRIA TO ENFORCE THAT ZONE? WOULD YOU BE WILLING TO HAVE WAR WITH RUSSIA OVER THAT?

RUBIO: NO. THE ANSWER TO YOUR QUESTION IS THE FOLLOWING. NUMBER ONE, IF YOU ARE GOING TO HAVE A NO-FLY ZONE, IT HAS TO BE AGAINST ANYONE WHO WOULD DARE INTRUDE ON IT. AND I AM CONFIDENT THAT THE UNITED STATES AIR FORCE CAN ENFORCE THAT, INCLUDING AGAINST THE RUSSIANS. THAT I BELIEVE THE RUSSIANS WOULD NOT TEST THAT. I DON'T THINK IT'S IN THE RUSSIANS INTEREST TO ENGAGE IN AN ARMED CONFLICT OF THE UNITED STATES.

HARWOOD: YOU THINK PUTIN WOULD BACK OFF IF WE HAD A NO-FLY ZONE?

RUBIO: I DON'T THINK HE'S GOING TO GO INTO A SAFE ZONE, ABSOLUTELY. I DON'T BELIEVE HE WILL LOOK FOR A DIRECT MILITARY CONFLICT AGAINST THE UNITED STATES IN ORDER TO GO INTO A SAFE ZONE.

HARWOOD: WHAT IF HE WAS?

RUBIO: WELL, THEN YOU'RE GOING TO HAVE A PROBLEM. BUT THAT WOULD BE NO DIFFERENT THAN ANY OTHER ADVERSARY.

HARWOOD: YOU'D BE WILLING TO ACCEPT THAT CONSEQUENCE?

RUBIO: BECAUSE THE ALTERNATIVE IS THIS MASSIVE MIGRATION CRISIS THAT WE'RE NOW FACING. THE ALTERNATIVE IS THAT ASSAD WILL REMAIN IN POWER, BUT NEVER CONTROL THE WHOLE WHOLE OF SYRIA AGAIN. THE ALTERNATIVE IS THE CONTINUED GROWTH OF NON-ISIS TERRORIST GROUPS IN ADDITION TO ISIS ITSELF. SO I THINK THE ALTERNATIVE IS WORSE.

HARWOOD: DON'T YOU THINK THE PROSPECT OF POTENTIAL MILITARY – HOT MILITARY CONFLICT WITH RUSSIA WOULD SCARE THE AMERICAN PEOPLE?

RUBIO: SURE. BUT THE CONSEQUENCES OF NOT DOING ANYTHING WOULD SCARE THEM EVEN MORE AND THAT INCLUDES ITS ONGOING CRISIS OF THE MIGRATORY CRISIS THAT WE'RE NOW FACING. THE CONTINUED GROWTH, NOT JUST OF ISIS, BUT A JABHAT A- NUSRA AND OTHER GROUPS IN THE REGION AS WELL. AT THE END OF THE DAY, THIS IS NOT AN EASY SITUATION AND WE WISH WE DIDN'T FIND OURSELVES HERE. AND IN MANY REASONS WE ARE IN THIS POSITION, BECAUSE WHAT THE OBAMA ADMINISTRATION DIDN'T DO TWO AND A HALF YEARS AGO WHEN I WAS ADVOCATING FOR THEM TO DO THIS TWO AND A HALF YEARS AGO OR A YEAR AND A HALF AGO. NOT NOW THAT BEING SAID, WE CANNOT SAY, WELL, IF PUTIN IS GOING TO TEST US, THEN WE CAN'T DO ANYTHING. YOU'VE BASICALLY AT THAT POINT CEDED TO HIM AS BECOMING THE MOST INFLUENTIAL GEOPOLITICAL BROKER IN THE REGION.

HARWOOD: SCOTT.

WAPNER: SENATOR, I CAN'T HELP BUT WONDER ABOUT THE IRONY OF THE BACKDROP THAT YOU HAVE CHOSEN TO DO THIS INTERVIEW TODAY WITH JOHN HARWOOD. THAT BEING ON THE FLOOR OF THE NEW YORK STOCK EXCHANGE AT A TIME WHERE MANY FOLKS ON BOTH SIDES OF THE AISLE FROM A CAMPAIGNING STANDPOINT HAVE BEEN VERY CRITICAL OF HEDGE FUND MANAGERS, OF WALL STREET ITSELF. ARE YOU MAKING A STATEMENT BY BEING AT THE NEW YORK STOCK EXCHANGE TODAY? WHAT SOME OTHER CANDIDATES MAY CALL, YOU KNOW, POLITICAL DEATH VALLEY COMING DOWN TO WALL STREET.

RUBIO: WELL, LOOK, FIRST OF ALL, CAPITAL FLOWS IN AMERICA AND CAPITAL INVESTMENT IS CRITICAL. MY FATHER WAS A BARTENDER AT A HOTEL. AND THE REASON WHY HE HAD A JOB AT A HOTEL IS BECAUSE SOMEONE INVESTED MONEY IN BUILDING THAT HOTEL. MILLIONS OF AMERICANS ARE INVESTED WITH THE TRADES THAT ARE BEING MADE HERE TODAY BECAUSE THEY'RE MEMBERS OF THE TEACHERS UNION PENSION FUND OR THE FIREFIGHTERS OR THE POLICE OFFICERS. THIS IS AN IMPORTANT PART OF OUR ECONOMY. MY FUNDAMENTAL ARGUMENT HAS BEEN THAT FOR PEOPLE WHO ARE NOT REPRESENTED HERE, THEY FEEL LIKE THEY'RE BEING LEFT BEHIND IN MANY INSTANCES, PARTICULARLY SMALL BUSINESSES WHO ARE NOT PUBLICLY TRADED OR OWNED BY A HUSBAND AND A WIFE OR A SMALL FAMILY. THE GROWTH OF GOVERNMENT SERVES AS A MASSIVE IMPEDIMENT TO THEIR ABILITY TO PROGRESS AND PROSPER. AND IT'S IMPORTANT FOR US NOT TO ALLOW THOSE BARRIERS TO CONTINUE TO STAND TO UPWARD MOBILITY. SO THIS IS A VALID AND IMPORTANT PART OF OUR ECONOMY. IT'S WHAT MAKES US THE LARGEST AND MOST IMPORTANT ECONOMY IN THE WORLD. BUT NOT THIS ALONE. SMALL BUSINESS IS THE BACKBONE OF OUR ECONOMY AND WE NEED TO ENSURE THAT WE HAVE A CLIMATE THAT IS FAVORABLE TO THEM AS WELL.

HARWOOD: SCOTT, I'M GOING TO TOSS IT BACK TO YOU WITH THE ONE POSTSCRIPT WHICH IS THAT YES, IT'S POLITICAL DEATH VALLEY, BUT THIS IS ALSO POLITICAL BANK, NEW YORK CITY IS AND SENATOR RUBIO'S TRYING TO TAKE ADVANTAGE OF THAT.

RUBIO: WELL NOT RIGHT NOW, I'M NOT. I'M NOT HERE FOR THAT. I'M HERE TO TALK WITH NEWSMAKERS AND THE NEWS STATION.

WAPNER: YEAH. VERY ASTUTE COMMENT, JOHN HARWOOD. CERTAINLY, THE SENATOR AS WELL. THANKS TO BOTH OF YOU FOR THAT GREAT INTERVIEW TODAY ON OUR PROGRAM. BY THE WAY, CNBC MODERATES THE NEXT REPUBLICAN PRESIDENTIAL DEBATE. THE YOUR MONEY YOUR VOTE EVENT AIRING WEDNESDAY OCTOBER 28th. THAT WILL BE FROM THE UNIVERSITY OF COLORADO IN BOULDER.

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