WESTERMAN STATEMENT ON PRESIDENT BIDEN'S BUDGET PROPOSAL

WASHINGTON - Congressman Bruce Westerman (AR-04) released the following statement on President Biden's FY 2024 budget proposal:

"Rather than proposing changes that would correct our current economic trajectory, President Biden proposed trillions of dollars in new taxes for hard working American families and businesses. His idea is that he is 'taxing the rich' and 'greedy businesses,' but at the end of the day, businesses will pass on those costs to the American people in the form of even higher costs. Americans can't afford that right now.

"What's more, the proposal ignores the economic debt crisis facing our country, and instead, would send us down the same path of irresponsible spending that got us to this point in the first place. The federal government once again collected record tax revenues. We don't have an alternative income problem; we have a spending problem. The nonpartisan Congressional Budget Office is estimating that the U.S. will be paying over $10.5 TRILLION in the next decade on interest alone. That is more interest to be paid in the next ten years than has been paid in the history of our country. It's all driven by radical spending that's resulted in rapid inflation and higher interest rates that compound the problems Americans are facing every day. 

"While I am disappointed in the proposed budget, I am hopeful that with a Republican House majority, we will be able to stop this reckless spending because it's past time to rein in on government spending and get our country back on track."