During an appearance on Fox Business Network on Monday, Rep. Roger Williams (R-TX) warned the climate, tax and health care bill agreement brokered between Sen. Joe Manchin (D-WV) and Senate Majority Leader Chuck Schumer (D-NY) would be bad for the U.S. economy.
Williams told FBN the legislation threatens income, which was sorely needed at a time of economic malaise.
“Manufacturing is going to get hit,” he said. “Retail is going to get hit. This is a disaster created by these folks that just want to continue to print money. Inflation is not going to be affected, as you said earlier. What you have to do is you need to cut tax, and when you cut tax, you put more money in the system. Businesses don’t save, they spend, and you grow the economy. Like I said, now, they’re going to be saving money. They’re going to eliminate payroll, save money so they can pay the taxes. And, it’s not – and it’s really going to destroy our economy, and it’s going to make it harder and harder to frankly come back because, like in 1981, I remember in 1981, we had high rates, high inflation, but we had products to sell.”
“The supply chain is eliminated now,” Williams added. “So, many of us, like me in the retail business – I sell automobiles. I’m a car dealer. We don’t even have product to sell to claw out of all this. So, it’s a disaster. If they don’t know the fix for, just know they hammer small business, raise taxes, and that’s not going to create more income. That’s going to eliminate income.”
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