(AmericanProsperity.com) – Senate Budget Committee’s Republicans criticized President Joe Biden’s controversial budget proposal for the next fiscal year during a Wednesday hearing with Shalanda Young, the director of the White House Office of Management and Budget (OMB).
President Biden’s plan aims to decrease federal deficits by almost $3 trillion, taxing corporations and wealthy Americans. The commander-in-chief’s budget includes different left-wing policy points, including some expanded Obamacare protections and a $1.8 billion expenditure that the Environmental Protection Agency will receive, to improve the lives of marginalized communities and promote environmental justice.
In the hearing, Utah Senator Mike Lee told Young that he found it troubling that President Biden claims to be fiscally responsible as the commander-in-chief, considering that he has a concerning record on debt accumulation and deficit that have been hurting the American economy over the last two years. He added that the most delicate aspect is that this situation occurred when Democrats controlled not only Congress but also the Senate.
In addition, Kansas Senator Roger Marshall suggested to Young that the president’s left-wing policies could lead to the same problems that caused the collapse of the Silicon Valley Bank last Friday if these are finally implemented. At another point, Marshall said that, after hearing other senators across the aisle and the arguments that Democrats and the Biden administration are using to defend the budget proposal, he fears that the president might be using what he called “voodoo accounting.”
Another Senator that blasted Biden’s budget proposal was Chuck Grassley from Iowa, who claimed that if President Biden’s budget proposal is eventually implemented, this will leave the United States more vulnerable as Americans will have a massive debt to bear with. He also said the budget proposal will drastically reduce business investment in the country, which could lead to fewer jobs, lower wages, and an “anemic economic growth.”
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