On October 15th, Alex Brill made a special appearance on CNBC’s “Squawk Box” to discuss President Biden’s corporate tax increase and the effects of rising inflation on the U.S. economy.
President Biden’s tax-and-spend infrastructure plan will reduce the competitiveness of U.S. corporations, burden working-class Americans, and discourage the type of private investment in America that fuels economic growth.
President Biden has announced two ambitious, entwined economic policy agendas: raising the corporate tax rate and other taxes on large businesses to pay for a significant increase in spending on a broadly defined set of infrastructure objectives. While the case for at least some increase in infrastructure spending is sound, the case for unwinding the corporate tax reforms enacted in 2017 is not.
