Good evening and welcome to our Weekend Update.
This week, Biden unveiled a budget that proposes $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.
Biden’s budget is a Tax and Spend initiative. High levels of increased government spending coupled with massive tax increases. This is anti-growth, anti-business, and will harm the nation. Thankfully, with Republicans in control of the U.S. House, this budget is dead on arrival. Reducing government spending is the answer to dealing with inflation and our national debt. Our nation’s road to prosperity must start there. Click here to watch my “Mornings with Maria” interview on Fox Business.
Additionally, I joined the “Morning Agenda” on Newsmax to discuss Biden’s budget proposal. Again, the Biden plan is more spending and higher taxes. Biden’s budget proposal is just another reminder of the importance we elect a new president in 2024. Click here or below to watch my interview.
For two years in a row in Washington, D.C., there have been over 200 homicides, the highest city residents have seen in almost two decades. D.C. City Council’s answer? They passed a law that would give criminals reduced penalties for serious crimes like carjacking, assault, rape, and even some types of murder.
Thankfully, the House kept its Commitment to America, and the Senate followed its constitutional duty by voting to stop this soft-on-crime law from taking effect. Speaker Kevin McCarthy held a signing ceremony with everyday Americans who are frustrated about the crime levels in their neighborhoods for Rep. Andrew Clyde’s House Joint Resolution 26, which the Speaker signed and is now being sent to President Biden for his signature.
Also, while in Washington, we recently passed legislation that blocked the Biden administration's executive order requiring Environmental, Social & Governance (ESG) to be a factor in people’s 401k investments.
Additionally, we passed legislation to overturn the Biden administration's executive order that increased regulations on Waters of the United States (WOTUS). These burdensome mandates would tremendously impact farmers in Pennsylvania’s 9th District and nationwide if they were to go in place. Click hereto watch my floor remarks.
We also voted to declassify all Covid intelligence related to its origins. The American public deserves to know the truth.
IN NEWS YOU WON’T HEAR IN THE MAINSTREAM MEDIA: Biden’s budget can be summed up in a few words… Higher Taxes, More Government Spending.
Here are some facts related to Biden’s budget proposal:
- A reality check on Biden’s fiscal record. Despite the Administration’s delusional claims of reducing the deficit, the nonpartisan Congressional Budget Office projects deficits between 2021 and 2031 will be $6 trillion higher than was projected when Biden took office.
Building on a record of irresponsibility. The President’s own budget proposes $17.1 trillion in cumulative deficits over the next ten years, with annual deficits reaching $2 trillion by the end of the budget window.
The Biden Budget is a tax hike budget. The budget request focuses on tax hikes that will hit millions of hardworking Americans making under $400,000 and hurt the economy. The Biden Administration allows tax relief provided by the Tax Cuts and Jobs Act to lapse and layers on an additional $4.7 trillion in new and expanded taxes. By the end of the budget window, taxes as a share of the economy reach levels only previously seen during World War II.
The Biden Budget ignores our growing debt. The Biden Budget would increase debt held by the public from $25.9 trillion in 2023 to $43.6 trillion by 2033. Gross debt rises from $32.7 trillion at the close of this year to $50.7 trillion by 2033.
A new shameful record. Under the Biden Budget, debt held by the public surpasses the previous record as a share of GDP (106.1 percent) set in the wake of World War II in 2027 (106.3 percent). By the end of the budget, public debt as a share of the economy hits 109.8 percent.
Fails again at funding defense. Ignoring the reality of growing worldwide threats, the budget fails to adequately fund defense. The Biden Budget proposes a minimal increase for defense in 2024, followed by funding levels that fail to keep up with inflation.
Irresponsible spending and no attempt to rein it in. Over the next ten years, the Biden Budget would result in $82.2 trillion in cumulative spending, including $2.5 trillion from new mandatory spending proposals.
Spending future generations into oblivion. The Biden Administration’s reckless borrowing causes interest costs to continue to mount, going from $661 billion in 2023 to $1.3 trillion in 2033. Over the 2024-2033 window, interest costs will total a staggering $10.2 trillion.
- More gimmicks, fewer cures. The Biden Budget fails to put major trust fund programs on a sustainable path, instead kicking the can down the road with accounting gimmicks, tax increases, and price controls that will reduce life-saving drugs and treatments.
As I have stated, our nation’s future success rests on reducing government spending and reducing taxes on hardworking American families and entrepreneurs. We can’t make goods in America if we are going to tax small businesses and manufacturers more than Chinese goods are taxed. Unfortunately, the Biden administration just doesn’t understand this as they continue to embrace an extreme liberal agenda rooted in “Woke” policies. We need to elect a new president who will prioritize American families and workers over fulfilling the agendas of a left-wing ideology.
The way government works, there is a lot of waste. I’m not telling you anything you don’t already know. But it doesn’t mean that’s the way it has to be. That’s why my office has worked incredibly hard to save taxpayer money by operating our office more efficiently. By doing more with less, we are showing Washington that spending can be done in a responsible and pragmatic manner. This year, we came in under budget by $276,000 and returned that to the U.S. Treasury.
Additionally, our dedicated team has worked to return $4,028,295 to our constituents. The casework involved working with 17 different agencies resolving disputes ranging from a few hundred dollars to several hundred thousand dollars. Click here to read more.
Yesterday, after a long week in Washington, I had a great time kicking off the St. Patrick’s Day festivities this month at the Pottsville St. Patrick’s Day parade! My wife Shelley and I walked the route with State Representative Tim Twardzik, Register of Wills Theresa Gaffney, and Schuylkill County judicial candidate Bill Burke.
Regarding the Silicon Valley Bank, as a member of the House Financial Services Committee, we have been closely monitoring the situation all weekend, as well as the national banking environment. As the FDIC process continues, I remain in touch with the FDIC and other federal regulators. The FDIC has the ability the resolve this bank failure in a timely and responsible manner. I will provide additional updates tomorrow.
Until next week, God bless, and see you soon,