Malliotakis Statement on Biden’s FY24 Budget Request
(WASHINGTON, DC) – Congresswoman Nicole Malliotakis (NY-11), a member of the House Committee on Ways and Means, today released the following statement on President Biden’s budget request for FY2024:
“Yesterday, a bipartisan group of members met with the Director of the Congressional Budget Office who confirmed our fears about the fiscal trajectory of our country. The reality is, if nothing changes, our debt is projected to reach $154 trillion by 2053, with net interest amounting to a $10.5 trillion burdenon taxpayers over the next ten years. It’s unconscionable that despite knowing this, President Biden would propose a budget that continues Washington’s same old tax and spend ways by recklessly spending trillions of dollars, while also increasing the personal income tax rate to its highest in nearly 40 years and the corporate tax rate to one that’s higher than that of Communist China. If we have any hope of paying down our debts and restoring fiscal responsibility we cannot continue to spend money we don’t have and tax hardworking American families into oblivion.
“Thankfully, with Republicans in control of the House, we are serving as a check and balance. It’s imperative for the White House and Senate to negotiate in good faith, be realistic about the calamity we face and acknowledge the amount of bloated and wasteful spending that’s led to record deficits. If we all have the best interest of our country and future generations at heart, there’s no reason why we can’t work in a bipartisan manner to cut wasteful spending, protect critical programs like medicare and social security, responsibly begin to pay down our debt and get our financial situation under control.”
Banner Image: Money being eaten away by government spending and debt. Image Credit – Steve Watts