Biden's tax plan will send US economy into death ‘spiral,' NJ congressman warns
Biden administration eyeing first major tax hike since 1993
Rep. Van Drew, R-N.J., responded to the Biden administration eyeing the first major tax hike since 1993 during an interview with FOX Business’ “Mornings with Maria."
BIDEN'S CORONAVIRUS RELIEF BILL INCLUDES $60B IN SURPRISE TAX HIKES
REP. VAN DREW: “We’ve come forward. Our economy was moving forward. You know, under the past administration, amazing things occurred -- best economy we ever had. We are literally -- with this and with almost everything else we're doing -- just completely going backwards. When I ran, I talked about a strong America that would have a strong supply chain, really make sure that our military is strong, that our manufacturing is strong, that we're producing more energy than anybody, the number one country in the world. And you can see where we've cut the pipeline. We're now going to increase taxes. It's a nightmare.
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It's literally every bad thing that I said was going to happen is now happening. Corporations are not going to want to stay in the United States. People are not going to have as much disposable income. It's just nothing good about it. And it's really eventually going to hurt the economy.
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We’re spending too much. We're taxing more. That is a spiral for death for the economy. It eventually is going to hurt us a lot. It's so literally depressing, to be honest with you. You know, we have so much potential in this country and you go to Congress and you just see bad bill after bad bill after bad bill.”