House GOP Leader: Biden Infrastructure Plan Will Bring Inflation ‘Tax’ to Lower-Earning Families
House Minority Leader Kevin McCarthy (R-Calif.) said President Joe Biden’s infrastructure proposals would create significant inflation, which would thereby act as a “tax” for people who make less than $400,000.
Biden and his deputies have said they wouldn’t raise taxes on people making less than $400,000 per year. However, due to the sheer size of his two infrastructure proposals, worth about $4 trillion, some economists have warned that it would trigger significant inflation.
“When the president talks about not raising taxes on people under $400,000, that’s a lie. Every day you watch the inflation that he is creating. This is the Biden Tax,” McCarthy said on May 9 in an interview with John Catsimatidis on his radio show on WABC 770 AM.