RNC STATEMENT ON BIDEN'S TRILLION DOLLAR SPENDING SPREE

WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on Biden’s trillion-dollar spending spree:

“Biden’s out-of-touch $5.8 trillion spending spree is full of higher taxes, wasteful spending, and no relief for hardworking Americans. Biden’s budget is a reckless tax on families and businesses who are already struggling to afford the cost of Biden’s gas hike and record-high inflation. Voters will reject Democrats in lockstep with Biden’s spending and vote for Republicans up and down the ballot in November.”

Background:

• If Biden’s budget were adopted, debt would reach a new record by the end of the decade, growing by over $15 trillion.
  • Under this budget, the national debt would be $45 trillion by 2032.
• Biden’s budget includes nearly $2.5 trillion in new or increased taxes.
• In total, Americans would be hit with $58 trillion in taxes, “including a nearly $1 trillion tax increase on families and socking job creators trying to recover from failed COVID policies with a $1.5 trillion tax hike as well.”
• Despite record high gas prices, Biden’s budget proposes $43.5 billion in tax hikes on oil and gas production.
• By the end of the decade, Biden’s budget would result in over $72 trillion in cumulative spending.