Sen. Thune: Going Into a Recession and Raising Taxes Would Be a Disaster

EXCERPT:

VARNEY: "You got to give us some hope, Mr. Senator, because we know this is a financial program. We're looking at the Wall Street, we're looking at the economy. And I don't think there's many people who really want to go into a recession and then raise taxes. That's a --"
THUNE: "No --"
VARNEY: "-- a disaster.
THUNE: "-- it would be in fact. I think the thing that we would want to do right away is make permanent the 2017 tax law. A lot of those provisions are expiring. If you want to give investors certainty and predictability then it starts there. And then it starts with changing the the approach to regulation, Stuart, the -- the heavy --"
VARNEY: "Yeah."
THUNE: "-- hand of government that's been imposed by this administration that needs to be replaced with a lighter touch. And -- and let's get the incentives out there for investment to increase supply in our economy. And -- and hopefully that will start to equalize with demand and we can see inflation start to moderate. But as of right now, yeah, it's a five alarm crisis. And -- and we've got to take these -- the House and the Senate in November if we're going to turn it around."