Job Creators Network Slams Biden’s $775 Billion “Caring Economy” Plan

Ex-VP Would End Investment Incentives for Like-Kind Exchanges, Hurting Economic Recovery
Press ReleaseJuly 21, 2020

Washington, DC (July 21, 2020) — Today, Joe Biden unveiled the third plank of his economic agenda – a “Caring Economy” plan that would spend $775 billion for child care and care for the elderly. To help pay for it, Biden would level taxes on real-estate investors with incomes above $400,000, eliminate investment incentives for like-kind exchanges, and increase tax compliance by higher-income earners.

Alfredo Ortiz, President and CEO of Job Creators Network (JCN), released the following statement:

“Another week, another ‘tax and spend’ plan from Joe Biden that would devastate our economy. In particular, Biden’s proposal to eliminate like-kind exchanges would hurt investors at a time when we desperately need more investment.  Before the pandemic, we enjoyed the best economy in history thanks to President Trump’s tax cuts and deregulation – and we will get back to that economy quickly as society safely reopens. Biden’s ‘tax and spend’ agenda – taken straight from the Bernie/AOC playbook – would turn a ‘V-shaped’ recovery into an ‘L-shaped’ depression. We can’t let happen.”