Rep. McCaul Slams President Biden’s $6.9 Trillion Budget Proposal

WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) released the following statement on President Biden’s proposed $6.9 trillion budget.

“President Biden and Congressional Democrats have pushed our economy to the brink with their partisan spending sprees,” said Rep. McCaul. “Inflation has risen more than 13% since he took office, and — as the Congressional Budget Office reported just this week — our debt is set to reach a devastating $154 trillion by 2053.

“What is the president’s plan to solve the economic crisis burdening American families? More of the taxes and spending that got us here in the first place. For the sake of future generations, it’s time this administration face reality and work with Republicans to make reasonable spending cuts.”

Background:

President Biden’s budget proposal doubles down on many of his failed economic policies by:

• Providing $14.1 billion to the IRS, a 15% increase from the record-high 2023 levels;
• Adding $5.5 trillion in tax hikes over the next decade, including $31 billion in new taxes on American energy;
• Increasing the Pentagon’s budget by just 3.2%, which — at far less than the current inflation rate of 6.4% — amounts to a decrease in real dollars; and
• Including $2.6 trillion of new spending.

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