Larry Summers said the bill likely would not make the economy stronger, and flagged concerned over the amount it would add to the US debt.
Larry Summers doesn’t see much to love in the sweeping tax and budget bill President Donald Trump signed into law over the holiday weekend.
On Sunday, the former US Secretary of the Treasury spoke to George Stephanopoulos of ABC News and laid out his take on the One Big, Beautiful Bill Act, taking aim at what he sees as a dire hit to America’s fiscal health as a result of the historic legislative package.
“There is no economist anywhere, without a strong political agenda, who is saying that this bill is a positive for the economy”, Summers said. “And the overwhelming view is that it is probably going to make the economy worse.”
After weeks of deliberation, the One Big, Beautiful Bill Act recently passed in the House of Representatives, with Trump signing it into law on July 4.
