Missouri GOP lawmaker stresses need to pursue ‘spending cuts’ over tax raises – Washington Examiner
Rep. Eric Burlison, a Republican from Missouri, advocates for spending cuts rather than tax increases in response to economic challenges. he argues that the country has a spending problem, not a revenue problem, noting that the top 1% of earners already contribute considerably to tax revenues. Burlison expressed his views during an interview on Fox Business, emphasizing that any increase in taxes could negatively impact economic growth. He disagreed with fellow lawmakers who suggest raising taxes on the wealthy, including a proposed tax on millionaires hinted at by former President Donald Trump. Additionally, Burlison criticized calls for congressional hearings into possible insider trading related to tariff policies, suggesting that accusations against Trump were unfounded. He believes focusing on reducing spending is vital for enacting Trump’s agenda without imposing new taxes.
Missouri GOP lawmaker stresses need to pursue ‘spending cuts’ over tax raises
Rep. Eric Burlison (R-MO) was cautious about raising taxes on the nation’s wealthiest people, suggesting that there are better ways to pursue President Donald Trump’s agenda for consumers in the United States.
Trump hinted at using a new tax on millionaires to offset the cost of his legislative agenda last week, specifically allowing the top marginal tax rate to go back to 39.6%. Rep. Andy Harris (R-MD) has also suggested this possibility, saying this door could be left open “if we can’t find spending reductions” within the government to fulfill Trump’s campaign promise of having no taxes on tips and other tax cuts.
Burlison, however, did not see eye-to-eye with his fellow Republican.
“I don’t think that we need to raise taxes on the rich. I think that we need to find spending cuts,” Burlison said on Fox Business’s Mornings with Maria Bartiromo. “Look, we’ve got a spending problem, not a revenue problem. Whenever we continue to encourage countries to buy our debt, it’s not putting us in a good position. We’re driving up interest rates because we’re the number one buyer of debt. We’re also keeping inflation high because we’re spending more money than we’re bringing in.”
Burlison added that finding spending cuts is “the one key thing” that Republicans can do to enact Trump’s agenda, reiterating his belief that raising taxes is not the necessary solution. He also noted how the nation’s top 1% earners are already footing the bill on 40% of the nation’s taxes, and history has shown that raising taxes has a “negative impact” on economic growth.
House Speaker Mike Johnson (R-LA) has also criticized the idea of raising taxes on the nation’s wealthiest, arguing that the Republican Party’s “general principle” is providing tax cuts to everyone regardless of income.
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Burlison also addressed Sen. Cory Booker’s (D-NJ) demand for congressional hearings into possible insider trading after Trump paused most of his tariffs, in which he claimed “there’s enough smoke” to back up his demand. The Missouri lawmaker, however, suggested Booker was “reaching” and pointed out how “there’s more circumstantial evidence” that Democratic lawmakers like Rep. Nancy Pelosi (D-CA) have been involved in insider trading.
Businessman and Shark Tank host Kevin O’Leary has also rebuffed the idea that Trump conducted insider trading by encouraging people to buy stocks before pausing most of his tariffs. O’Leary said that the stock market went up “just as likely it goes down” following Trump’s suggestion and that the current accusations have “no teeth.”
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