A New York Republican is at odds with a CNN host over Trump's economic policies.
Rep. Mike Lawler claims that Kamala Harris' policies will lead to a recession.
On Thursday morning, Rep. Mike Lawler, R-N.Y., engaged in a heated debate with CNN host Sara Sidner over which presidential candidate's economic policies were more detrimental.
Lawler defended tariffs before arguing that the Biden-Harris administration's policies had contributed to skyrocketing inflation, while Sidner asked Lawler to respond to criticism by economists that former President Trump's tariff proposal on Chinese imports would raise prices for consumers.
"The Inflation Reduction Act was passed by Vice President Kamala Harris, but it has not reduced inflation as intended. Instead, it has caused groceries to rise and crippled our economy. Therefore, we need to reverse many of the policies implemented by the Biden-Harris administration," Lawler stated.
Kamala Harris' proposal to raise the corporate tax rate from 21% to 28% would be the fastest way for companies to move manufacturing back overseas, which would be disastrous for the economy, according to Lawler.
Sidner claimed that Harris was "deviating" from some of President Biden's policies, specifically referring to her suggestion of a lower tax increase on capital gains compared to Biden's initial budget proposal.
"You believe 28% is acceptable?" Lawler inquired, alluding to Harris' suggested increase in the corporate tax rate.
"A lot of Americans pay 28%," Sidner replied.
Jobs would be sent overseas, Lawler argued, stating it would severely harm our economy.
Kamala Harris' policies will lead to a massive increase in federal spending and a potential recession, according to the speaker.
Sidner persisted in questioning the Republican about Trump's tariffs, stating that economists viewed them as a substantial tax on consumers.
"Lawler stated that tariffs can be used to prevent countries from purchasing uranium and petroleum, especially in the case of Iran's funding of terrorism."
Have you disputed every economist who has stated that this will make it harder for people to afford imported goods, particularly those from China? Sidner inquired once more.
"Every economist? Please cite me a few," Lawler reacted.
"Literally every economist that is—" Sidner started to respond.
"Name me one," Lawler replied.
Mark Zandi, the chief economist at Moody's, and Goldman Sachs have criticized Trump's tariff plan, according to Sidner.
Lawler argued that CNN was concentrating solely on one economic proposal from Trump while neglecting to examine the entirety of each candidate's economic policies.
The host was informed by the speaker that increasing the corporate tax rate would have a greater impact on the economy and personal income taxes, and that allowing open borders and supporting Medicare for All would cripple the economy. Despite this, the speaker expressed no concerns or questions about the matter.
Lawler's suggestion was rejected by Sidner, resulting in an awkward conclusion to the interview.
Sidner stated that she had questions about the topic and had inquired about some of her policies.
He replied, "You inquired about Donald Trump's policies, and I responded with a 'No'."
Lawler reminded Sidner that he was the one who proposed raising the corporate tax rate from 21% to 28%, before she started to respond about Harris' proposal.
In 2017, the U.S. corporate tax rate was 35% when Trump and congressional Republicans passed the Tax Cuts and Jobs Act (TCJA), which lowered the corporate tax rate to 21% and reduced personal income taxes for most taxpayers. Last month, the Harris campaign announced that she would increase this rate to 28%.
James Singer, a spokesperson for the Harris campaign, stated that the policy is a financially responsible way to return money to working people and ensure that billionaires and large corporations pay their fair share.
Trump's economic plan has been met with mixed reactions from economists. Trump campaign national press secretary Karoline Leavitt defended Trump's economic plan in a statement to CNN about the criticism.
"President Trump's economic plans were doubted by economists and experts in his first term, but they were proven wrong then and will be proven wrong again. Trump successfully imposed tariffs on China and cut taxes for Americans in his first term, and he will do it again in his second term. Trump's plan will result in millions of jobs and hundreds of billions of dollars returning home from China to America."
Fox Business’ Eric Revell contributed to this article.
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