Chair of the House Ways and Means Committee, Jason Smith, R-Mo., said on Sunday that voters should expect more of the same on the economy and taxes if Vice President Kamala Harris wins in November.
"In Vice President Harris' plan, we've seen it for the last 1,300 days in her administration where we've seen an inflation tax on all Americans, increased by 20.3% since she took the oath of office," Smith told "Sunday Morning Futures."
"That means every viewer is paying more just to put food on their table, clothes on their backs, and gasoline in their cars. Those are the economic policies that a Hearst administration's going to implement — that led to the highest interest rates in two decades."
Smith zeroed in on Harris's proposed 25% tax on unrealized gains.
"Clearly, she doesn't understand the economic impact [this] would have on everyday working families. It is not just rich people that would be affected by these policies. That is what's so disturbing, so alarming," he said.
"You talk about affecting economic growth in our nation. It's trying to put forward an unrealized tax on capital gains. This is atrocious. And, unfortunately, the Biden-Harris administration has proposed it every year for the last four years in their budget."
Smith then pointed out that Harris was the tie-breaking vote on big spending bills, such as the Inflation Reduction Act, which he said has been part and parcel to the 20.3% rise in inflation since President Joe Biden and Harris took office.
Nick Koutsobinas ✉
Nick Koutsobinas, a Newsmax writer, has years of news reporting experience. A graduate from Missouri State University’s philosophy program, he focuses on exposing corruption and censorship.
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