Tags: Biden Administration | Coronavirus | Joe Biden | grover norquist | biden | coronavirus | stimulus

Grover Norquist: Biden's Coronavirus Bill for Spending, Not Stimulus

grover norquist at news conference
Grover Norquist, president of Americans for Tax Reform, is seen during a news conference in the Capitol where GOP senators said families and small businesses would benefit from tax reform on Nov. 7, 2017. (Tom Williams/CQ Roll Call via AP Images)

By    |   Friday, 22 January 2021 02:33 PM

President Joe Biden's proposed $1.9 trillion coronavirus bill is a spending bill, not one for economic stimulus, Grover Norquist, the founder and president of Americans for Tax Reform, said Friday. 

"We went through this with (Barack) Obama," Norquist said on Fox Business' "Mornings with Maria." "We had the weakest recovery since World War II, so this spending does not make the economy grow faster. You're just borrowing against the future."

Meanwhile, Biden was clear during his campaign that he wants to raise the corporate tax rate, Norquist added.

"President (Donald) Trump did a big favor to the country when we took the corporate rate from 35%, higher than any other country, took it down to 21%," said Norquist. "That was Trump's doing. He argued for 15%. The Republican opening bid was 25% ... we got to 21%. It was a tremendous step in the right direction."

However, Biden wants to get rid of all of that and wants to increase the corporate tax "up to 35% sometimes, 28% sometimes, but always higher than China's, higher than (in) most European countries," said Norquist. 

Biden also has promised to restore the Obamacare penalty tax, said Norquist.

"If you believe he won't tax anyone who earns less than $400,000, get over it," he added. "He already told you."

Janet Yellen, Biden's nominee for treasury secretary, has also said in written testimony that she and Biden want a "gasoline tax on steroids," said Norquist.  

"That's a tax on every American," he said. "You don't have to make $400,000 a year to fill up your tank. He wants to increase the capital gains tax for every American."

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Politics
President Joe Biden's proposed $1.9 trillion coronavirus bill is a spending bill, not one for economic stimulus, Grover Norquist, the founder and president for Americans for Tax Reform, said Friday. "We went through this with...
grover norquist, biden, coronavirus, stimulus
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2021-33-22
Friday, 22 January 2021 02:33 PM
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