GOP Rep. Brady: Republicans Will Fight Biden Tax Hikes ‘Tooth and Nail’

During a Monday appearance on Fox Business Network’s “Mornings with Maria,” Rep. Kevin Brady (R-TX) addressed President Joe Biden’s plan to raise the capital gains tax by almost more than double its current rate of 20%.

According to Brady, this plan by the Biden administration is “another major economic blunder by President Biden.”

“This is another major economic blunder by President Biden,” Brady told host Maria Bartiromo. “Look … after the Tax Cuts and Jobs Act, investment surged in America, and as a result, it was blue-collar workers, it was local communities that benefited. When you double that tax, you have if opposite effect. In reality, you wouldn’t encourage a cure by punishing the most frequent and successful researchers., You don’t rebuild a healthy economy by punishing those who invest in that local and U.S. economy, and that’s exactly what you have here. So at the end of the day, American workers are the net loser in President Biden’s capital gains proposal.”

Brady said stopping the capital gains tax is “doable.” He added that the GOP would fight the plan “tooth and nail in the House of Representatives.”

“I think most lawmakers understand we don’t want a business tax rate worse than China and on par with Syria,” he stated. “We don’t want to go back to … last time, you know, Biden was in the White House when we saw hundreds, if not thousands, of businesses moving their jobs and manufacturing and headquarters overseas. That is a huge step backward. And I think the more lawmakers understand the impact here, I think the more gains we make. And I will tell you this — we are going to fight tooth and nail in the House of Representatives.”

Follow Trent Baker on Twitter @MagnifiTrent

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