Smucker Responds to Biden’s Budget Proposal

Washington, D.C. —Congressman Lloyd Smucker, a senior member of the House Budget Committee, released the following statement in response to the publication of President Biden’s Fiscal Year 2024 Budget.

“Let’s be clear: President Biden’s budget proposals are not fiscally responsible no matter how much his administration tries to spin it. The president’s latest proposal follows the playbook of progressives-- mountains of new spending to fund an ever-expanding government, massive tax hikes, and amassing more debt for future generations of Americans to shoulder.

The president’s proposal calls for $5 trillion in new taxes. President Biden can’t possibly believe himself when he claims just 680 Americans will be the primary group responsible for paying these new taxes. Make no mistake, small businesses won’t be spared from the president’s new tax scheme. According to his own budget plan, Biden’s proposal adds $17 trillion to the national debt over 10 years.

President Biden can spare the American people his hollow and misleading rhetoric about fiscal responsibility and budgeting gimmicks. American families have suffered enough due to the 40-year high inflation caused by Biden’s reckless spending.

Yesterday, thanks to Speaker McCarthy’s leadership, every Member of the House of Representatives was invited to a briefing on the state of America’s finances led by the non-partisan Congressional Budget Office (CBO). All members heard the grim news from the CBO—absent action, our national debt will eclipse $154 trillion by 2053. In the same time, the debt held by the public will equal nearly double our nation’s total economic output as measured by gross domestic product (GDP).

Correcting course will require an honest assessment of our nation’s finances and an earnest commitment to restoring fiscal discipline in Washington. President Biden, as evidenced by today’s budget proposal, fails both tests.

The challenges posed by our national debt and continual deficits is great, but we can, and we must, begin to change the trajectory of America’s financial future,” said Rep. Smucker.