$50,000,000,000,000 in debt and $4,700,000,000,000 in new taxes – those are the numbers you should think of when you think of Biden’s disastrous budget proposal.
The Republicans on the Senate Budget Committee wasted no time in delivering a reality check on the budget. (Click here to see the must read one-pager.)
Increased tax. Increased spending. Read more about President Biden's unserious and unsustainable budget here:https://t.co/P2cW4bPylB https://t.co/mb0LE3O4ZL
— Senate Budget GOP (@BudgetGOP) March 9, 2023
To add insult to injury, Biden insists he does not want middle-class taxes to go up but has no plan to extend the 2017 cuts in his budget. What does that mean? His “deficit reduction” claims are completely bogus, totally fake, and entirely smoke-and-mirrors. From the Tax Foundation:
“The Biden budget pays lip service to continuing at least some of the individual income tax cuts included in the 2017 Tax Cuts and Jobs Act (TCJA) that will expire after 2025, but offers no concrete proposal for doing so. As such, the cost of TCJA extensions is not factored into the budget. Nor is the cost of continuing the one-year expansion of the CTC. Together, such extensions would likely offset the projected deficit reductions.”
Biden’s budget is truly a “roadmap to fiscal ruin.” Higher costs, higher taxes, more debt – it’s the same tried and failed Democrat policies Biden has been pushing since he took office. American families are poorer as a result.
