North Cook News

This week, the Biden administration and Congressional Democrats passed one of the most ambitious stimulus packages in the history of the country. The nearly $2 trillion spending bill is set to be signed into law by President Biden later this week. 

Stephen Moore, who is originally from Winnetka, is an economist who joined Amy Jacobson and Dan Proft on Chicago's Morning Answer show to discuss the stimulus plan. 

In his conversation with Jacobson and Proft, Moore delved into the stimulus, observing that the terms of the plan do not incentivize businesses enough. Under the previous administration, Moore tried to push for policy that would return industry and manufacturing to the country and bring in revenue at a high rate. Unfortunately, Moore says that the recent stimulus simply doesn't accomplish the same thing. 

In particular, Moore had criticism for the corporate tax rate, which he says is not optimized for a return to a healthy economy. 

Moore said, "The country that will benefit the most from the United States raising its corporate tax rate will be China."

Moore speculated that the raising of the corporate tax rate would once again make the United States an unappealing place to do business.