Rep. McCarthy says Biden's plan will give 'China an advantage'
McCarthy said Biden broke his promise, and this plan will raise taxes on the middle class
House Minority Leader Kevin McCarthy slammed Biden's tax plan Thursday on "Kudlow," saying that Biden wants to make America "not competitive."
KEVIN MACCARTHY: Well I don’t know what facts he was trying to state because there were no facts in it. Think about it, you were just talking about the retail sales. This economy is strong from the fact the tax cut we provided, when you were serving, and the deregulation, that is what we’ve been living on. What he wants to do is make America not competitive. You made a lot of good points there and remember what the joint tax said, this will actually raise taxes on those making $30,000. He just broke his promise. But the one thing you haven’t brought up, the global minimum tax, that actual rate will be 19. All those businesses, all the repatriation of the money we brought back into America, he will make it easier for jobs to leave America to go to other countries. He gives China an advantage. Those are the individuals that will win in this process. Then he gives like a guaranteed income. 90% of Americans will qualify for the child tax credit. You make a very good point, they take away requirements. There is no job requirement. There is no requirement for a social security card for your child. It will not be just Americans you are providing he already had more than 1.2 million illegal encounters of people coming across the border. This is what is going to break America because it is a redistribution of wealth.
WATCH THE FULL INTERVIEW HERE: