Rubio: We need to bring $2T US cash overseas back

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Corporate taxes need to be overhauled to encourage companies to bring home "$2 trillion in cash" sitting overseas, possible GOP presidential candidate Marco Rubio told CNBC on Wednesday.

"Everybody wants to do tax reform. But when you open up the kimono ... [the president] wants to do corporate tax reform, but he wants to raise taxes some place else to pay for it," the Florida senator said in a "Squawk Box" interview.

Rubio also said making college education more affordable is an area where Republicans and President Barack Obama could agree. But he said the White House proposal for free community college is the wrong way to go.

He spoke a day after his second book, "American Dreams: Restoring Economic Opportunity for Everyone," went on sale.