Jorge Castro Discusses Biden Tax Plan on CNBC's Squawk Box
"Two Experts Debate Biden's Plan to Crackdown on Wealthy Tax Avoiders"
Jorge Castro, former Counselor to the IRS Commissioner under the Obama administration, appeared on CNBC's Squawk Box to discuss the White House's plan to increase IRS enforcement efforts to help pay for Democrats' social spending proposals. Castro said, "Clearly what is driving the Build Back Better plan that the Administration is proposing are the social spending programs for childcare, healthcare, and education. Tax is the funding mechanism by which to pay for those programs. Democrats are on a very compressed schedule, which raises challenges as to what is the right policy. It is challenging for stakeholders, even Members of Congress, to try to assess the consequences of these proposals."