House Minority Leader Kevin McCarthy (R-CA) said Sunday on WABC 770 AM’s “Cats Roundtable” that the $1 trillion infrastructure bill and the $3.5 trillion reconciliation plan would be “the amount of money we spent to win World War II.”
McCarthy said, “The amount of spending the Democrats have done brought us inflation. But now they are trying to raise taxes again. China is the only one who’s going to win on this tax proposal. It makes America less competitive. It breaks the promise again that the president made that he wouldn’t raise taxes on anyone below $400,000. Now the report comes back that it’s at $30,000 that you’re going to have your taxes raised. Every day we’re watching it in gasoline, milk and others.”
He added, “Think about it. Spending more than $5 trillion. That’s the amount of money we spent to win World War II. And they’re just adding onto our debt as they’re going along, which will create greater inflation. It’s a redistribution of wealth. It will take money out of the economy. It will make America less competitive, especially for our competition around the world. It’s a real concern. Every time we warned ahead of time of these Democratic policies, you know, President Biden said he’s going to bring American back, but I didn’t realize he wanted to take us back to the 70s where Americans are held hostage in the Middle East, where we have inflation, gas prices are high, and they’re begging OPEC to produce more while not allowing America to become energy independent.”
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