Upper Peninsula Congressman Jack Bergman issued the following statement after President Joe Biden released his $7.3 trillion ($7,300,000,000,000) budget which cuts essential funding for the new Soo Lock and raises taxes on Americans:
“Joe Biden’s budget is extreme and out of touch with the needs of Michiganders and all Americans. As inflation soars, my constituents are fighting to put food on their tables, yet, the President’s only answer is to propose raising taxes and spending more of their hard-earned money. The Biden budget fails to fully fund the new Soo Lock project, while at the same time proposing $104 billion in additional funding for the IRS. This tax-and-spend proposal is a perfect example of poor governance and failed leadership. We deserve better.”
Budget Committee Chairman, Rep. Jodey Arrington noted the following:
The Biden budget proposes the highest sustained levels of borrowing and spending in U.S. history and nearly $5 trillion in new taxes on American families, all while adding more than $16 trillion to our public debt.
House Republicans’ ten-year balanced budget reignites economic growth by one percent over the CBO baseline, cuts deficit spending by $14 trillion dollars, and reduces our debt-to-GDP ratio by 40 points, without raising taxes. The Biden budget supercharges an entitlement culture, taxes families when they can least afford it, and imperils America’s fiscal future by making promises we can’t afford on programs we don’t need using money we don’t have.
- President Biden proposes adding $16 trillion to the debt over ten years with the final year’s annual deficit of $1.7 trillion compared to House Republicans’ Budget Resolution, which reduces the debt by $14 trillion over ten years and achieves a $45 billion surplus by 2034.
- President Biden creates a cradle-to-grave welfare system and a culture of dependence by increasing entitlement spending by $2.5 trillion dollars.
- President Biden pays for his socialist spending by slapping Americans with a $4.9 trillion tax increase.
- Over 10 years, Biden’s budget will drive the nation’s indebtedness (debt-to-GDP) to the highest levels in US history and spend $2.5 trillion more on interest on the debt than on national security.
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