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ICYMIHagerty joins Fox News Live to discuss the Democrats’ Revenue Cut Act and the need for US force against communist China

ICYMIHagerty joins Fox News Live to discuss the Democrats’ Revenue Cut Act and the need for US force against communist China

 


WASHINGTONUnited States Senator Bill Hagerty (R-TN), a member of the Senate Banking and Foreign Relations Committees and former United States Ambassador to Japan, joined todayFox News Live on Fox News to discuss the damaging repercussions of Democrats’ reckless spending and President Bidens’ weakness in the face of communist China.

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Partial transcript

Hagerty on the impact of Democratic taxes and reckless spending on the American people: The Penn Wharton Modeling Team [has] dug in this depth. This has no positive impact on inflation. In fact, it is more likely than not to increase inflation. I call it the Income Reduction Act, that’s exactly what’s going to happen because they’re talking about massive tax increases. When you raise US corporate taxes, where do you think those costs go? It translates to awards on the American public. They continue to wage war on the oil and gas industry here in America, which makes us less competitive as a nation, which makes it harder and harder for the average person to make ends meet. You think of the pain we feel at the pump, there’s been a slight relief, but still, we’re [at] record gasoline prices since [President] Joe Biden has taken office. You watch people in my home state of Tennessee, we drive to work. We feel pain every day. It won’t solve inflation, but it will add a lot more pain. And when you think about that $80 billion they add to the IRS application, Griff, come on, people who have over $400,000 a year already have an army of accountants and lawyers working for them. They are [Democrats] coming after the middle class here in America is exactly what they need to do. They have a spending problem, and where are they going to get their income? They’re going after the middle class in America for this.

Hagerty explains how the middle class will bear the brunt of Democrats’ reckless spending: All [of] the analysis shows that taxes will increase, prices will increase and everyone will be impacted along the chain. And I think the burden of the pain, the vast majority of the pain, is going to be felt on the middle class here.

Hagerty on the Republicans’ plan to fight the Democrats’ Revenue Cut Act: As the evening drags on here into the weekend, you’re going to see the Republicans fighting tooth and nail with the Democrats, because every policy embedded in this reconciliation process is going to weaken America, drive up inflation and lower opportunities for our children and grandchildren.

Hagerty on strengthening the Americas position towards communist China: Regarding our position vis-à-vis China, we must be strong. This is what China understands. These are not words, these are not press releases, this is a real force and presence in the region. But I’ll tell you what’s going on over there, Griff. What is happening in China is a domestic problem. Their economy is weak. What Xi Jinping is trying to do is divert the attention of domestic voters. He is organizing the Chinese Communist Party Congress this fall. He’s up for re-election, so he’s trying to restore his strongman image right now. Its public is domestic. He does this to show himself strong. he uses [Speaker] Nancy Pelosi’s visit as an excuse. But make no mistake, this is really aimed at a domestic audience there so that Xi Jinping can stay in power. What we need to do as Americans is to continue to position ourselves in the right direction there, to strengthen our position in this region and to ensure that we are strengthening our defense capabilities, not weakening them. If you look at the budget proposed by the Biden administration, the Senate had to step in and step it up because the Biden administration actually wanted to defund the military in the face of this.

Hagerty on the need for American force: We hear from the Biden administration that they want to release tariffs now to take the pressure off China. Why? For nothing. I was the United States Ambassador to Japan when we imposed the tariffs. This did not cause inflation, inflation was 1.4%. When Biden took office, he has since taken off because of domestic politics, not because of our tariff policies. We must keep the pressure on China at every turn. And again, I would say this, we have to keep building our strength, building our posture and our momentum. It’s not just words and press releases, it’s deeds that matter to the Chinese.

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Sources

1/ https://Google.com/

2/ https://www.hagerty.senate.gov/press-releases/2022/08/06/icymi-hagerty-joins-fox-news-live-to-discuss-democrats-income-reduction-act-and-the-need-for-american-strength-against-communist-china/

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