Kudlow: Infrastructure spending does not add economic stimulus
'Kudlow' host Larry Kudlow rips Democrats for infrastructure spending plan and Green New Deal.
The Biden administration is pushing to spend big on infrastructure as an addition to economic stimulus, but FOX Business' "Kudlow" host Larry Kudlow said the plan is disguised as a tactic to retract former president Donald Trump’s tax cuts.
Kudlow explained that Democrats are not only showing their continued hatred for Trump, but also setting up infrastructure spending to hide implementation of the Green New Deal.
KUDLOW: "The Democrats have set up infrastructure as a Trojan horse to hide their real goal, which is the Green New Deal… And as I've argued many times, the Green New Deal is going to destroy fracking and fossil fuels and our energy independence. It is going to kill millions of blue-collar jobs, smash untold small businesses around the country that depend on fracking and oil and natural gas development. Climate change is an issue, but there is no existential threat.
"However, all manner of electricity and gasoline and other energy sources will see much higher prices and much lower supplies under this. Middle-class motorists and homeowners will get slammed. That's just the first Trojan horse in the infrastructure story.
"The second Trojan horse is that an alleged infrastructure bill… is actually a Trojan horse to repeal President Trump's tax cuts. Manic-obsessive left-wing ideologues who are fanatical about climate change are equally fanatical about hating former President Trump and anything to do with him. So we got a lot of fact-free arguments. They haul out the usual left-wing claims of tax cuts for the rich, causing greater inequality all at the expense of the poor."
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox