Biden wants to make America less competitive: Sen. Hagerty
Manchin suggests tax changes in Biden's spending plan
Bill Hagerty, R-Tenn. provides insight into Biden’s spending bill.
Sen. Bill Hagerty, R-Tenn., told "Mornings with Maria," Wednesday that Biden wants to make America "less competitive" with higher taxes in his spending plan and the legislation will poorly impact Americans amid inflation.
MANCHIN SUGGESTS TAX, POLICY CHANGES HE'D WANT IN BIDEN'S SPENDING BILL
SEN. BILL HAGERTY: This is not the time to be raising taxes on America, and what the Biden program does is take the most… targeted sorts of taxes, taxes that will single out individuals… tiny cuts of taxes that will harm specific sections of the population. But they're going to have broad-based effects because what they're doing essentially is attacking job creators. They're going to make it harder to form capital here in America. They should have more jobs offshore.
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They're going to make it less profitable to invest here, which means that companies will make the decision to invest elsewhere. Since 2017, America has been the most ideal place in the world to invest capital. That's why we've seen our GDP growth double, more than double, other GDP growth rates in most major nations. What Biden wants to do is kill that. He wants to make America less competitive, less attractive. That's what these policies would intend to do. It's going to be devastating to America in the long run.
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Bill Hagerty, R-Tenn. argues Biden’s spending plan will poorly impact Americans amid inflation.