On Thursday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Sen. Roger Marshall (R-KS) said that it makes no sense and is “hypocritical” to support increased spending on “corporate welfare” in the CHIPS Act to try to bring semiconductor chip manufacturers back to the U.S. and then support the tax increases on other manufacturers in the reconciliation bill that will drive them offshore.
Marshall said, “It’s just in their DNA, they love to spend money, they love to borrow money, they love to drive inflation. That’s what Democrats do. But you’re right, this particular bill is going to drive inflation and kill jobs. Look, corporations don’t pay taxes. They collect taxes.”
He added that the CHIPS Act “is corporate welfare. Why would we give them a big break, some very successful industries a big break? And then we’re turning around and going to be taxing other manufacturers. So, we’re going to be driving corporations offshore. I just think it’s hypocritical. I think it’s bad for the economy. Look, we need to resource and get manufacturing back to this country, not drive it off. I thought there was so much pork in the bill, it wouldn’t work.”
Follow Ian Hanchett on Twitter @IanHanchett
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