McCarthy: Dems’ Stimulus “A Waste Of Money… That Will Cost Every Family Of Four $22,000”

‘A Waste Of Money … That Will Cost Every Family Of Four $22,000’: Kevin McCarthy Slams COVID-19 Spending Bill

House Minority Leader Kevin McCarthy said Friday that the $1.9 trillion COVID-19 stimulus bill, signed into law on Thursday, is a cash giveaway to liberal causes and will cost every American family of four $22,000.

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“This is a waste of money, less than 9% is going to COVID,” McCarthy said, calling the legislation “a payoff to [House Speaker Nancy] Pelosi’s political friends.”

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Biden Relief Bill Contains $57 Billion in Hidden Tax Increases

There is more than $57 bil­lion worth of hid­den tax increas­es in Pres­i­dent Joe Biden’s $1.9 tril­lion coro­n­avirus stim­u­lus bill, Just the News has learned.The final ver­sion of the leg­is­la­tion expands the num­ber of employ­ees who are cov­ered by the $1 mil­lion lim­i­ta­tion on the deductibil­i­ty of exec­u­tive compensation.
Accord­ing to Nation­al Law Review, sec­tion 162(m) of the tax code “gen­er­al­ly pro­hibits a pub­lic com­pa­ny from deduct­ing more than $1 mil­lion in com­pen­sa­tion paid to a cur­rent or for­mer cov­ered employ­ee in a tax­able year,” and under cur­rent law “the cov­ered employ­ees are the chief exec­u­tive offi­cer, chief finan­cial offi­cer, and the three …

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