Billionaire bond king Jeff Gundlach slammed the Democrats’ proposed new $3 trillion coronavirus relief bill “” and said it would take total state aid to ‘over 150% of Federal taxes’

Billionaire bond king Jeff Gundlach slammed the Democrats’ proposed new $3 trillion coronavirus relief bill “” and said it would take total state aid to ‘over 150% of Federal taxes’

Gundlach said if the bill passed, the combined bailout towards the pandemic over three months up to May would amount to "over 150% of Federal taxes collected" in 2019.. The House is expected to vote on the bill Friday.. "Bond king" Jeff Gundlach on Wednesday night poured scorn on the latest $3 trillion coronavirus relief package proposed by House Democrats, and suggested that two-thirds of the stimulus funds provided so far are "leaking out.. in just three months“¦to over 150% of Federal taxes collected in all of the most recent reporting year. ". Gundlach also criticized the surging federal debt, saying that bailouts and stimulus proposed so far could be equated to "over 150% of federal taxes" collected last year.. The US collected $3.46 trillion in taxes in 2019, while the total combined amount of state aid provided, if the Democratic bill passed, would pass $5 trillion.. In April, Senate Majority Leader Mitch McConnell said he'd rather let states financially squeezed by the coronavirus pandemic declare bankruptcy than extend federal aid that would require further deficit spending.. US Representative Alexandria Ocasio-Cortez took a jab at Bill Gates for pushing his fellow billionaires to pledge more