Speaking on the UKTN Business Network on Monday, Representative Roger Williams (R-TX) warned of the climate, tax and health care agreement being struck between Senator Joe Manchin (D-WV) and Senate Leader Chuck Schumer (D-NY). ) would be bad for the US economy.
Williams told FBN the legislation threatens income, which was much needed at a time of economic slump.
“Production will be hit,” he said. “Retail is taking a hit. This is a disaster created by these people who just want to keep printing money. Inflation will not be affected, as you said earlier. What you have to do is you have to lower the tax, and if you lower the tax, you put more money into the system. Companies don’t save, they spend and you grow the economy. Like I said, now they’re going to save money. They’re going to do away with payroll, save money so they can pay the taxes. And it’s not — and it’s going to really destroy our economy, and it’s going to make it harder and harder to come back frankly because, like in 1981, I remember in 1981, we had high rates, high inflation, but we had to sell products.”
“The supply chain has now been eliminated,” Williams added. “So many of us, like me in retail, I sell cars. I am a car dealer. We don’t even have products to sell to fix all this. So it’s a disaster. If they don’t know the solution, know that they are extorting small businesses, raising taxes, and that will not lead to more revenue. That saves income.”
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