William McBride, vice president of federal tax and economic policy at the Tax Foundation, a pro-business, tax policy think tank, said the legislation would have “close to zero impact on inflation.” He said it also could unleash a potentially disastrous domino effect on the economy and the government through tax increases that might end up reducing federal revenue.
Economists question claim by Democrats that new tax-and spend-bill will cut inflation
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“We also modeled the effects of infrastructure spending financed by a corporate tax increase and found it would, on net, be a negative for the economy,” said William McBride, vice president of federal tax and economic policy at the Tax Foundation.
Joe Biden seeking 'fair' corporate tax; plan expected to cost upwards of $4T, White House says
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