During Wednesday’s broadcast of “Mornings with Maria” on Fox Business Network, Rep. Kevin Brady (R-TX), the ranking Republican member on the House Ways and Means Committee, voiced his criticism of President Joe Biden’s proposed $2.5 trillion infrastructure bill.
Brady warned the massive bill “will be the biggest economic blunder, frankly, of our lifetimes.”
“Maria, clearly, smart investment in infrastructure over time will boost economic growth, but if you impose at the same time $2 trillion of tax increases on America’s job creators, you actually have a net loss of economic growth in this bill,” Brady told host Maria Bartiromo. “No president has ever raised business taxes trying to rebuild an economy from an economic crisis. I think at the end of the day, this will be the biggest economic blunder, frankly, of our lifetimes.”
According to Brady, the Biden administration undoing former President Donald Trump’s tax cuts to help pay for the infrastructure bill will “sabotage” the United States’ economic recovery coming out of the coronavirus pandemic.
“Besides penalizing American job creators exactly at the worst possible time, this is really leading us to a global race to the bottom,” he advised. “They are adopting the economic model that abhors competitiveness in job creation and really sort of dumbs down the economy to the lowest level. We are actually adopting the slow-growth approach of Europe.”
Follow Trent Baker on Twitter @MagnifiTrent