Rep. Mike Lawler (R-NY) issued a stern warning on CNN’s “News Central” Thursday, stating that Vice President Kamala Harris’s economic policies would inevitably plunge the United States into a recession.
Lawler emphasized the need to address the current economic landscape, citing soaring prices for everyday essentials like groceries, energy, and housing. He pointed to the significant increase in mortgage costs in his district, which has risen by over $1,000 per month, translating to a staggering $12,000 annually, under the Biden-Harris administration. To combat this, Lawler stressed the importance of reining in government spending and bringing down inflation, which he believes can be achieved by reducing prices.
The congressman expressed concern that the proposed 28% corporate tax rate would have devastating consequences for the economy. He noted that the current 21% corporate tax rate has yielded record-high tax revenue, largely due to corporations repatriating business from overseas, including China. Lawler argued that the focus should be on promoting domestic manufacturing and ensuring that businesses continue to thrive in the United States.
Lawler further criticized Harris’s plans, which he claimed would not only raise taxes on corporations but also on individuals. He also took issue with the proposed massive expansion of the federal bureaucracy, which would involve trillions of dollars in new spending on top of the $5 trillion already spent during the first two years of the Biden administration. Lawler was adamant that Harris’s policies would lead to a recession, leaving no room for doubt.
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