ICYMI: Leader McConnell on ‘Kudlow’

WASHINGTON, D.C. U.S. Senate Republican Leader Mitch McConnell (R-KY) joined Larry Kudlow on Fox Business’ ‘Kudlow’ this afternoon. See below for highlights or click here to watch the full interview:

On Democrats’ Reckless Tax and Spending Spree:

“Take a quick look back to the 2017 tax bill. As we all predicted, lowering corporate rates, for example, creates a gusher of corporate tax revenue. We cut rates, revenue went up. In February of 2020, right before the pandemic hit, we had the best economy in 50 years. I rest my case. The 2017 tax bill worked for America. Now, obviously they want to undo all of that. They have already created a lot of harm this year with the previous $2 trillion package they passed earlier this year without a single Republican vote. It created raging inflation, which Larry Summers, the last honest Democrat in town, predicted it was going to happen. [He is] still in an argument with the Treasury Secretary over it. Raging inflation and people don't want to go back to work because of what they’ve done already.

“The best way to sum up the impact of this package: If the Democrats pass it, and of course it will be all by themselves, they’ll double down on all of the mistakes they have already made this year. The only way to stop it since it can be done one party only, is Joe Manchin, Krysten Sinema, the two most important Democrats in the Senate, have the ability to kill the whole package to dramatically reduce the size of it. I’m praying for them every night. No Republicans will join up this effort to further exacerbate the mistakes that have been made earlier this year by this new Democratic government.”

On Democrats’ Partisan Framework:

“None of us are going to support this. This is not a result of any kind of bipartisan negotiation. We're making it at least hard for them by preventing them from calling this bipartisan… No matter what form this ultimately takes, it is a dramatic step in the wrong direction. Doubling down on what they have done earlier this year, which has already created massive unemployment, at least massive reluctance to go back to work, and raging inflation… My assumption is this framework will, at some point in the coming weeks, turn into a real bill. Right now it is kind of a talking point and we haven't seen the [final] language yet. My assumption, is, it is still under discussion among Democrats. I’m not even sure they agreed to the framework.”

On IRS Snooping Provisions:

“It may be alive with the Democrats but it is not alive in the country. We are getting massive communications from our constituents all across America. They don't want the IRS snooping into their bank accounts for routine transactions. One huge mistake among many that look like they could end up in a final bill, if they ever get to a final bill.”