WASHINGTON DC – Congressman Doug LaMalfa released a statement after President Joe Biden submitted his exercise request to Congress on Monday.
LaMalfa’s statement is provided below:
“The American people are crushed under the weight of President Biden’s economic crisis and soaring inflation. Instead of addressing or even trying to alleviate these concerns, his proposal budget plan only doubles down on his administration’s failed policies. If you think inflation is bad now, this plan is expected to increase our national debt by $15.7 trillion by fiscal year 2032. Congress Budget Office estimates that without this plan, the national debt would only increase by $12.8 trillion over the same period. This $3 trillion increase will only aggravate and amplify the effects of inflation.
Biden budget The proposal also provides more than $2.5 trillion in tax increases for high-income earners and large corporations over a decade, in addition to the nearly $1.5 trillion in increases included in the version of the House of the Build Back Better plan. It would be the largest tax hike in history, but it includes many major increases that have already been rejected by members of his own party. If passed, these additional funds will not even be used to fix our nation’s debt, they will only be used for unnecessary government spending.
After continually attacking domestic energy production, his plan allocates $50 billion to huge green new deal programs, including $11 billion in US dollars for overseas projects.
Biden’s proposal shows he has learned nothing from his failed policies and has no idea of the struggles the American people have gone through under his leadership. More spending, more debt and more taxes only increase the suffering of the American people.