Sen. Rand Paul on COVID relief bill: “Exemplifies that President Biden was for fake unity”
BOWLING GREEN, Ky. (WBKO) - The U.S. House of Representatives is expected to vote on the latest COVID relief package Friday, known as the American Rescue Plan.
The $1.9 trillion plan includes $1,400 stimulus checks, $170 billion for schools, $160 billion to expand vaccine development and infrastructure and extensions of unemployment benefits. It was also supposed to include a federal $15 minimum wage, but it’s unclear at this point if that will make it in or not.
Meanwhile, Senator Rand Paul (R-KY) said the democrats’ bill was not a bipartisan effort.
“Well, I think it sort of exemplifies that President Biden was for fake unity,” said Paul. “What’s the first thing he does, he tells republicans ‘my way or the highway,’ and kicks them out of the White House.”
Paul also says that the bill is too costly and adds that it will negatively impact the economy later on down the road.
“That bill is going to be done with only democrat votes, and it’s going to be $2 trillion of borrowed money,” said Paul. “And what that means is it dilutes the value of the money that you have. So your currency becomes worth less, and eventually, prices will rise, and ultimately leads to the boom and bust cycle. All that money being printed right now, a lot of it’s going into the stock market and the stock market is shooting up. And does that mean these companies are more valuable? No, it means we just have more money. And so people are spending in the stock market because they can’t get any money in a savings account,” he said.
“And so when the bust comes, then you have a significant problem and you have liquidation of jobs and you’ll have unemployment.”
With a democrat majority in the House, it’s expected to pass and then will move to the divided Senate.
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