‘Hypocritical’ to spend money on chip makers and then raise taxes on other makers
On Fox Business Network’s “Mornings with Maria” Thursday, Sen. Roger Marshall (R-KS) said it makes no sense and is “hypocritical” to support increasing “business welfare” spending in the CHIPS Act. to bring semiconductor chipmakers back to the US and then support tax increases on other manufacturers in the reconciliation bill that would drive them offshore.
Marshall said, “It’s just in their DNA, they like to spend money, they like to borrow money, they like to drive inflation. That’s what Democrats do. But you are right, this particular bill will drive inflation and kill jobs. Look, corporations don’t pay taxes. They collect taxes.”
He added that the CHIPS Act “is corporate welfare. Why give them a big break, some very successful industries a big break? And then we turn around and tax other manufacturers. Well, we’re going to drive the companies offshore. I just find it hypocritical. I think it’s bad for the economy. Look, we need to find resources and bring manufacturing back to this country, not drive it out. I thought there was so much pork in the bill, it wouldn’t work.”
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