“You can’t add a trillion dollars of new taxes on job creators and think it helps the economy. You can’t drive $5 trillion over the decade in the economy and think it doesn’t spur inflation,” Republican Leader on the House Committee on Ways and Means Rep. Kevin Brady (R-TX) said on CNBC’s Squawk Box, discussing how the Democrats’ welfare expansion, tax hikes, and spending sabotages our recovery.
CLICK HERE to watch the full interview.
On Democrats’ expanded Child Tax Credit hooking a new generation on government checks and raising child care costs on families, Rep. Brady said:
“They’re divorcing the Child Child Tax Credit from work. It was a bipartisan tax credit created by Republicans as an incentive to help people reconnect and reward them for working.
It is now, under this bill, the largest welfare program in America. It takes us back 25 years, we think exactly the wrong thing going forward.
The way they’ve designed child care, the bottom line is if you’re a family making more than say, $65,000 a year, your child care costs go up. By some estimates, the liberal policy group makes about $13,000 a year, so we think they design this in a way that sounds great, but the underlying part of this is very damaging.
Rep. Brady added that President Biden’s tax hikes and spending drive inflation, add to the debt, and hurt our recovery:
“Senator Manchin is right on target to be asking: What will this do to inflation? What will this do to the debt? How will this help the economy?
And the truth is, this bill, at least the way it came out of the House, hurts in all of those regards.
You can’t add a trillion dollars of new taxes on job creators and think it helps the economy.
You can’t drive $5 trillion over the decade in the economy and think it doesn’t spur inflation, especially since there are provisions in this bill that discourages Americans, in fact, encourages them to exit the workforce.
“None of this makes sense for this time, I’d argue it doesn’t make sense at all.”