March 14, 2024

ICYMI: House Budget Committee’s FY25 Budget Resolution Works Better for Hardworking Americans than President Biden’s Runaway Spending Plan

A week after the House Budget Committee passed its Fiscal Year 2025 Budget Resolution, President Biden released his budget full of tax hikes, inflationary spending, and steep deficits. Congressman Blake Moore (R-Utah) issued the following statement on the President’s budget and the need to implement responsible spending reforms outlined in the Budget Committee’s plan:

“Our nation’s federal debt and deficit are a crisis, and President Biden’s budget falls far short of addressing the many pressing challenges caused by runaway spending. The President’s budget proposal would add $18.2 trillion to our national debt over the next 10 years, allowing the debt to reach a staggering $52.7 trillion by 2034. It would impose the largest tax increase in history with $4.9 trillion in new taxes, spend an unprecedented $86.6 trillion over ten years, grow the gross federal debt by 25% more than the economy, and more. Higher taxes and inflated prices are the least of what hardworking American families need right now.

My top priority since coming to Congress is to fix Washington’s spending addiction and counter policies like President Biden’s that worsen our economic outlook. Republicans on the House Budget Committee have taken meaningful steps to do just this, and we proudly passed our Budget Resolution for Fiscal Year 2025. In contrast to the President’s budget, our budget proposes no new taxes, grows the economy over three times faster than the debt, balances the budget in 10 years, and spends $15.1 trillion less than the President’s budget over 10 years. This creates a path to reducing spending and deficits, bolstering economic growth, and bringing fiscal responsibility back to Washington. I am grateful for the hard work that went into building this framework that should serve as a model for federal budgeting going forward.” 

Read more about the contrast between the Budget Committee’s Budget Resolution and President Biden’s budget herehere, and here.


Watch Congressman Moore’s committee remarks here.