McClintock Critical Of Biden’s $7.3 Trillion Budget
Washington, DC — Mother Lode Republican Congressman Tom McClintock is speaking out against President Joe Biden’s $7.3 trillion budget proposal. It would allow some of the Trump Administration tax breaks to expire next year and raise the corporate income tax to 28% from 21% for many of the highest earners.
McClintock says, “You produced a budget with nearly five trillion dollars in new tax increases over the next 10 years. Now, you divide that by the number of households in America, that is roughly $40,000 of the average earnings of every family in the country.”
Criticizing the administration’s policies overall, McClintock added, “18 percent inflation since you took office. That means the retirement fund on inauguration day, of $100,000, now only buys $82,000 of goods. That is the price of all of the free money you handed out.”
The budget is not anticipated to pass as is, and will likely go through several variations.
The Biden Administration put out a statement that the proposed budget will, “Protect progress, lower costs, protect and strengthen Social Security and Medicare, Invest in America and the American people, and reduce the deficit.”
The White House’s bullet points about the budget can be found here.
