Biden’s tax hike proposal will lead to economic downturn: Madison Cawthorn

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Rep. Madison Cawthorn, R-N.C., argued that President Biden’s tax plans will hurt the U.S. economy and middle class and “lead to a recession,” on FOX Business’ “Mornings with Maria” Tuesday.

DEMS RENEW DEMAND FOR SALT TAX REPEAL, THREATENING BIDEN’S SPENDING PROPOSALS

MADISON CAWTHORN: [Members of the Biden administration] just say big lies and they continue to go on with their radical policies — starting to increase taxes on capital gains, increase taxes on income tax. This is going to hurt the middle class. This is going to hurt our economy. It’s going to take jobs away from the people he purports to help. 

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I am happy that Democrats have finally admitted that there is not unlimited money out there in the world. In the first 100 days of the Biden administration, Nancy Pelosi and all the Democrats in Congress have spent nearly $10 trillion. We have a $4 trillion budget. And then we also have these $6 trillion spending plans. That’s $10 trillion. Money doesn’t grow on trees, as you well know.

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Increasing taxes on the middle class is just going to hurt our economy more. This is going to lead to a recession, I genuinely believe, and the Republican Party does have an opportunity to stop this in the Senate. So we have to hope that Joe Manchin holds the line and make sure that we have a filibuster remain in place. 

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