House Minority Leader Kevin McCarthy (R-Calif.) said President Joe Biden’s infrastructure proposals would create significant inflation, which would thereby act as a “tax” for people who make less than $400,000.
Biden and his deputies have said they wouldn’t raise taxes on people making less than $400,000 per year. However, due to the sheer size of his two infrastructure proposals, worth about $4 trillion, some economists have warned that it would trigger significant inflation.
