Republican lawmakers are criticizing Democrat President Joe Biden’s budget proposal for 2025, rejecting what the party recently described as an unending “appetite for reckless spending.”
The White House released the commander-in-chief’s proposed budget for the fiscal year 2025 on Monday, March 11. Soon after, the Republicans in the House of Representatives and the Senate released a statement slamming the proposal.
Biden’s suggested changes would ultimately lead to a deficit of almost $1.8 trillion in 2025, including $7.3 trillion set aside for spending and $5.5 trillion for designated tax revenue. This came days after Republicans in the House issued a budget designed to cut back on federal spending by $14 trillion in the next 10 years, with plans to rescind certain government social programs and benefits.
GOP House Speaker Mike Johnson (R-LA) posted on X that Biden’s proposal serves as a “glaring reminder” of the “Democrats’ disregard for fiscal responsibility.”
He further described it as a “roadmap” that would lead more quickly to “America’s decline.”
My joint statement with @SteveScalise, @GOPMajorityWhip, and @RepStefanik on Biden’s budget proposal: pic.twitter.com/6StD9YAzMe
— Speaker Mike Johnson (@SpeakerJohnson) March 11, 2024
Johnson’s statement—released jointly with House Majority Leader Steve Scalise (R-LA), House Majority Whip Tom Emmer (R-MN) and House Republican Conference Chair Elise Stefanik (R-NY)—went on to emphasize that American citizens are facing rising inflation prices as well as national debt. But Biden’s response through the budget would only add to these issues rather than work to mitigate their negative repercussions.
On behalf of House Republicans, the statement rejected “Biden’s misguided budget proposal” and instead sought an alternative of reducing federal spending, national debt and the financial toll taken out on American taxpayers. Johnson’s statement noted that the GOP approach “to rein in the runaway spending spree” led by Democrats last year has “already yielded results.”
It is expected that $2.6 trillion will be taken off the anticipated deficits throughout the next decade. The statement added that this move would positively impact the “values of hard working Americans” who acknowledge the necessity of “fiscal discipline” during “tough economic times.” It concluded by emphasizing that GOP representatives “understand” the expectation from Americans that the federal government be financially responsible, saying that citizens “deserve nothing less.”
Per a White House briefing document, the president’s budget plan will supposedly be effective at lowering costs for healthcare, implementing tax cuts, increasing affordable housing, securing the border and reducing college debt.
Biden is reportedly planning to fund his $7.3 trillion spending budget by raising taxes for corporations, individual billionaires and stock buyback. The proposal would be implemented in 2025, when tax cuts previously enacted by former president Donald Trump are set to expire.
