UPDATED 10:08 AM PT – Thursday, April 1, 2021
Former House Speaker Newt Gingrich said Joe Biden’s infrastructure plan is a “recipe for economic disaster.”
Gingrich released a statement on Wednesday, saying Biden’s plan is a tax increase bill disguised as an infrastructure bill.
Delivering for the American people is what the American Rescue Plan was about. It’s what the American Jobs Plan is about.
We can do this.
We have to do this.
We will do this.
— Joe Biden (@JoeBiden) March 31, 2021
He added that it would kill jobs and make infrastructure projects more expensive.
Biden is seeking to implement several new tax measures, which include an increase in all domestic corporate taxes.
“This entire American job killing plan will in fact raise taxes, weaken the competitive businesses, make it harder for Americans to compete in the world market, and in effect it is one more contribution from the Biden family to the victory of the Chinese Communist Party,” Gingrich stated.
Gingrich went on to say the tax increases would lead to layoffs instead of new jobs. He also pointed out that President Trump’s Tax Cuts and Jobs Act created jobs and led to record unemployment rates.