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#RNC 2020: White House economist Larry Kudlow warns of ‘dark days’ under Joe Biden

#RNC 2020: White House economist Larry Kudlow warns of ‘dark days’ under Joe Biden

August 25, 2020 | 10:03pm | Updated August 25, 2020 | 10:04pm

White House economic adviser Larry Kudlow on Tuesday said that the US would face “dark days” if Democratic presidential candidate Joe Biden defeats President Trump

“Our economic choice is very clear: Do you want economic health, prosperity, opportunity and optimism? Or do you want to turn back to the dark days of stagnation, recession and pessimism?” Kudlow said in remarks on the second night of the 2020 Republican National Convention.

“I believe there can’t be better economic policies than we’ve had in recent years. So I say, stay with him.”

Trump slammed Biden’s proposal to roll back some of the tax cuts that Trump signed into law in 2017.

“In economic terms, folks, this is no time for a $4 trillion tax hike. Coming out of the deep pandemic, who in their right mind would pick the pockets of taxpayers and drain money from their wallets and purses? Kudlow said.

He said that if Trump wins “more tax cuts and regulatory rollback will be in store: payroll tax cuts for higher wages, income tax cuts for the middle class, capital gains tax credits for investment productivity and jobs [and] much more regulatory relief for small businesses.”

White House National Economic Council Director Larry Kudlow
White House economist Larry Kudlow speaks during the RNC tonight.2020 Republican National Convention/Handout via REUTERS

Kudlow, who joined the White House in 2018, said that the US already was recovering economically from the coronavirus pandemic, and reflected on the booming economy before COVID-19 struck in March.

“Everyone was better off — a rising tide lifted all boats,” Kudlow said.

Trump’s economic policies were “a roaring success,” he said, listing tax cuts, regulation cuts and new “free, fair and reciprocal trade deals.”

Kudlow praised Trump’s response to the “once-in-100-year pandemic” and congressional action, saying “a great bipartisan rescue also saved the economy.”

“Right now, our economic health is coming back — with emergency spending and tax cuts, Americans are going back to work,” Kudlow said. “There’s a housing boom, there’s an auto boom, a manufacturing boom, a consumer spending boom. Stocks are in record territory. A V-shaped recovery is pointing to better than 20 percent growth in the second half of this year.”

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