FOX Business host Larry Kudlow provides insight on House Speaker Kevin McCarthy's efforts to craft a pro-growth agenda on 'Kudlow.'
FOX Business host Larry Kudlow provides insight on the debt ceiling and crafting a pro-growth agenda on 'Kudlow.'. Along the way, spending restraint would reduce deficits and borrowing. In theory, that would make it easier for the Federal Reserve to control the money supply and hold down inflation and, by the way, cutting the federal budget almost always means reducing anti-business regulations because all these programs have major strings tied to them.
The package would also include clawing back $50-70 billion of unspent COVID money. One item not in Mr. McCarthy's speech would be an attempt to repeal Joe Biden's cancelation of student loans, which would be a $500 billion savings. Reportedly, it would rescind the $80 billion IRS package for 87,000 new agents, which would go after principally people making under $400,000 a year, and the Republican package would also reportedly repeal the green tax credits in the misnamed Inflation Reduction Act, which has now been re-estimated to cost well over $1 trillion, and with uncapped refundable tax credits with virtually no time limit, that whole goofy bill could wind up costing $3-4 trillion over the next 35 years.
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