Democrats' infrastructure plan is 'financial disaster waiting to happen': Sen. Tillis

Sen. Thom Tillis, R-NC, called the multi-trillion-dollar Democrat infrastructure bill is a "financial disaster waiting to happen" Monday on "Your World."

THOM TILLIS: I serve on the banking committee. I’ve spoken with a lot of people in the financial services sector, the largest banks in the country. And they are bullish on the economic prospects absent this $3 or $4 trillion package. All of them have said, with financial experts that are far more experienced than me say if we flood the zone with this $3 trillion in spending, it’s not going to end well. It’s going to affect the long-term cost of products and inflation and could have an upward if the fed does react, could have an upward impact on interest rates. We could be at a situation where we could spend a trillion a year serving our national debt right now. That is a financial disaster waiting to happen, which is why we hoped that on a bipartisan basis, getting this infrastructure package in we can set it aside and then the President and Chuck Schumer and Nancy Pelosi can sell this additional spending spree and the reckless taxes with it. That is something else we haven’t talked about, we have to remember, its corporate taxes, capital gains, family farmers are going to get hit hard. No one will be protected from the tax increase, which is another just way of undermining what a great story was to be told about raising wages before COVID hit our shores.