Main Street Caucus Decries Biden’s Busted Budget

March 31^st, 2022 | Press Release

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WASHINGTON, D.C. - Members of the Main Street Caucus today decried the release of President Biden’s busted plan of a budget. This comes at a time of incredibly high inflation, rising oil and natural gas prices, and rising home and rent costs, causing most families to see less and less of their paychecks.

President Biden’s budget does nothing to alleviate this stress; in fact, it does the opposite. Not only does the budget include $58 trillion in total taxes, the highest sustained tax burden in American history, but it also imposes $45 billion in new taxes on domestic energy production at a time when the average American is paying over four dollars a gallon at the pump. It is clear Biden is choosing reliance on foreign oil over utilizing the production base we have at home.

Rep. Pete Stauber (MN-08), Co-Chair of the Main Street Caucus said, “President Biden’s budget proposal is a disaster for Main Street America. We’re already suffering from 40-year high inflation and record high gas prices, burdening families and small businesses as they make tough decisions about their budgets. Yet rather than addressing these problems, Biden’s budget calls for spending increases that will exacerbate them. Instead, Americans deserve a budget that combats inflation, establishes American energy dominance and supports our small businesses.”

“American families and businesses will suffer under the President’s left-wing budget-busting proposal,” said Rep. Don Bacon (NE-02), Co-Chair of the Main Street Caucus. “Not only does his budget add $16 trillion to the national deficit over the next 10 years, but it also cuts defense spending under inflation, leaving us unable to modernize and expand our deterrence and combat capabilities. His proposal increases gas and energy taxes, which hurts the poor the most. There will be a $48 billion death tax increase and our businesses will face some of the highest taxes in the world. These financial burdens will only weaken our economy and hurt hard working Americans. Congress holds the purse, and we need to start being fiscally responsible with our federal spending. Americans do not want a high tax and spend government.”

Rep. Mike Bost (IL-12), Co-Chair of the Main Street Caucus said, “At a time when Southern Illinois families are struggling to make ends meet because of skyrocketing inflation and gas prices, President Biden is proposing a massive $1 trillion tax increase on families and $1.5 trillion increase on job creators. Instead of working to find a solution to give Main Street Americans relief, he is doubling down on his failed policies, which will only make the situation worse and make it even harder for parents to put food on the table.”

"President Biden's budget is disastrous for not only the American people but also for American businesses,” said Rep. Lisa McClain (MI-10). “Instead of spending billions of dollars on Green New Deal priorities, President Biden needs to cut spending. Inflation is the highest it's been in 40 years. The government needs to stop printing money we don't have and start implementing policies that will actually benefit hardworking families."

“President Biden’s budget does nothing to solve the root inflationary crisis,” Rep. Stephanie Bice (OK-05) said. “In fact, it would grow our debt by $16 trillion over a 10-year period. Instead of increasing taxes on the middle class and businesses, we must find ways to revitalize companies that are still working to recover from the Covid-19 lockdowns. It is imperative that we cut wasteful spending, not increase taxes.”

“Earlier this week, President Biden released his $5.8 trillion budget full of Green New Deal agenda items and liberal priorities that will hurt our rural communities, businesses, and main streets,” said Rep. Randy Feenstra (IA-04). “Even worse, it proposes $1.5 trillion of tax increases on families and small businesses and fails to offer a comprehensive plan to increase biofuels production and lower gas prices for struggling families. Our country cannot afford more wasteful spending that bankrupts future generations and empowers our adversaries. This budget is too big and too liberal for America.”

“Central Valley families are suffering from higher costs on nearly everything, from gas to fill up their cars to groceries to feed their families,” said Rep. David Valadao (CA-21). “The crises Americans are facing are a direct result of the failed policies that President Biden continues to prop up in his budget. Instead of addressing the day-to-day challenges Americans are dealing with, this proposed budget would raise taxes, increase spending, and fuel already record-high levels of inflation. Our country cannot continue to spend more than we have – families don’t run their households this way, and it’s no way to run the government. This spending will ultimately be paid for by our job creators, middle-class families, and future generations of Americans.”

"The President's budget has become a partisan political exercise,” said Rep. Tom Reed (NY-23). This is the Democrat's wish list of priorities and political posturing leading into the midterm elections. I clearly disagree with those priorities and take this for what it is, nothing more than political messaging. Our country is facing historically challenging times, both domestically and worldwide. Now is not the time for politics, it is time to lead."

“At a time when families, farmers, and small businesses are struggling under skyrocketing fuel costs and inflation, the President’s budget recklessly pushes additional policies that will only amplify these problems,” said Rep. Chris Jacobs (NY-27). “Proposing new taxes on domestic energy production and spending at extreme levels shows this administration has learned nothing of the impact of their unrealistic policies - this will only spell additional economic hardship and financial stress for farmers, families, and businesses.”

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