Biden Criticizes U.K. Decision To Abandon Tax Cuts

October 16, 2022 8:11 am

PORTLAND, Ore. (AP) — President Joe Biden is calling embattled British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake,” saying he is worried that other nations’ fiscal policies may hurt the U.S. amid what he calls “worldwide inflation.” In remarks Saturday, Biden said it was “predictable” that the new prime minister on Friday was forced to walk back plans to aggressively cut taxes without identifying cost savings, after Truss’ proposal caused turmoil in global financial markets. Biden’s comments are an unusual criticism by a U.S. president of the domestic policy decisions of one of its closest allies.