Trump Says Biden’s New Plan “Largest Tax Hike In American History”

( Former President Donald Trump is continuing his barrage on his successor, slamming President Joe Biden’s $2 trillion infrastructure plan.

Trump said the plan is a “radical” proposal that’s built on “ludicrous” tax hikes. He said these changes would only end up resulting in American businesses going elsewhere, including to countries such as China.

In a statement released on Wednesday by his 45 Office, Trump said:

“Joe Biden’s radical plan to implement the largest tax hike in American history is a massive giveaway to China, and many other countries, that will send thousands of factories, millions of jobs, and trillions of dollars to these competitive nations.

“The Biden plan will crush American workers and decimate U.S. manufacturing, while giving special tax privileges to outsourcers, foreign and giant multinational corporations.”

The “American Jobs Plan,” as Biden is dubbing it, was unveiled on Wednesday. The president said he’s seeking to improve the crumbling infrastructure of America by pumping roughly $621 billion into repairing bridges and roads, as well as modernizing public transit systems over the next eight years. The plan would also invest billions of dollars into greener energy and climate resiliency.

Biden plans to pay for all this money by introducing tax hikes on businesses, which includes increasing the corporate income tax rate to 28%. When Trump was in the White House, he slashed that rate to 21%, down from 35% during the Obama administration.

Trump also tried to discourage companies from “offshoring” their work to other countries. He did so by increasing the global minimum tax on American multinational corporations to 21%.

The former president said Biden’s proposal tax increases would “break the back of the American worker.” He continued:

“America is once again losing the economic war with China. This legislation would be among the largest self-inflicted economic wounds in history. If this monstrosity is allowed to pass, the result will be more Americans out of work, more families shattered, more factories abandoned, more industries wrecked, and more Main Streets boarded up and closed down — just like it was before I took over the presidency.”

Trump went off on Biden, attacking his former opponent for the things he said during the campaign last fall. Trump said in his statement:

“Biden promised to ‘build back better’ — but the country he is building up, in particular, is China and other large segments of the world. Under the Biden Administration, America is once again losing the economic war with China — and Biden’s ludicrous multi-trillion dollar tax hikes is a strategy for total economic surrender. Sacrificing good paying American jobs is the last thing our citizens need as our country recovers from the effects of the Global Pandemic.

“Biden’s policy would break the back of the American Worker with among the highest business tax rates in the developed world. Under Biden’s plan, if you create jobs in America, and hire American workers, you will pay MORE in taxes — but if you close down your factories in Ohio and Michigan, fire U.S. workers, and move all your production to Beijing and Shanghai, you will pay LESS. It is the exact opposite of putting America First — it is putting American LAST!”