Pelosi’s Radical Bill – Part 5: Economic Recovery
Newt's World
Gingrich 360
4.6 • 6.4K Ratings
🗓️ 26 June 2020
⏱️ 6 minutes
🧾️ Download transcript
Summary
Nancy Pelosi’s radical $3 trillion bill has many provisions in it, that if passed, would dramatically change our country. In this episode, Newt discusses how Pelosi’s bill will slow down the economic recovery. Part 5 of a special podcast series detailing Nancy Pelosi’s so called, HEROES Act.
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Transcript
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| 0:00.0 | Pelosi and her fellow Democrats have passed a radical $3 trillion bill, which is going to slow down the economic recovery dramatically. |
| 0:11.2 | The Democrats and House of Representatives passed Speaker Pelosi's 1,815 page, $3 trillion bill to radical change America on Friday, May 15th. |
| 0:23.6 | When a bill has 1,815 pages, it is almost impossible to grasp how many radical and dangerous things can be buried in it. |
| 0:33.6 | This is the fifth in a series of briefings on the Pelosi bill, the dangers it has for America. |
| 0:39.6 | I will post all the briefings for you to share at www.genglishthreesechty.com slash policy bill. |
| 0:46.6 | The sky is the next COVID-19 stimulus package. |
| 0:50.6 | Pelosi's bill is really an effort to create a very different America, with the $3 trillion is the lure to sweeten and to some extent hide the radicalism. |
| 1:00.6 | The Pelosi bill is full of new ways to spend money, including cash handouts for people in the country illegally, allowing people in the country illegally to work, even with more than 21 million Americans unemployed, funding for taxpayer abortions. |
| 1:15.6 | And handouts to state and local governments, along with $130 billion tax rate for the richest people and high-tech states and cities governed by Democrats. |
| 1:27.6 | This briefing will focus on how Pelosi's radical bill is designed to slow down the recovery of the U.S. economy. |
| 1:34.6 | Her bill extends unemployment insurance, raises taxes on businesses, raises costs of airing employees, and extends on reasonable regulations. |
| 1:44.6 | This is an attempt to federalize our free economy. By extending $600 a week of extra unemployment insurance until January 31, 2021, Pelosi and the federal Democrats are incentivizing people not to work. |
| 2:00.6 | After all, the federal government is offering them a free paycheck that is worth $31,200 a year. |
| 2:07.6 | And more than 38 states, it will be more profitable to stay at home unemployed than to get out of bed and go to work. |
| 2:14.6 | This extension of this program, from the cares I've called federal pandemic unemployment compensation program, provides no incentive for people to go back to work. |
| 2:25.6 | Pelosi ends this supplemental unemployment program after the January presidential inauguration. |
| 2:31.6 | Additionally, the bill raises taxes on businesses. It would make changes to the net operating loss provisions in the successful CARES Act. |
| 2:39.6 | Net operating loss is an important attribute for businesses. Firms would no longer be able to apply net operating losses to tax years prior to 2018. |
| 2:50.6 | Therefore, it prevents them from applying the losses from higher tax rates that prevailed before the tax cuts in jobs act. |
| 2:58.6 | Businesses will suffer due to this careless provision. It is simply an attempt to undo President Trump's successful tax cuts. |
| 3:06.6 | By extending paid lead programs to previously exempted small businesses, the cost of harrying people will increase. |
| 3:13.6 | This bill would require all employers to provide paid sick and emergency leave under the Family and Medical Leab Act workers, no matter how big or small their companies are. |
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