BIDEN’S BUDGET July 13, 2021 Biden’s Budget Joe Biden has released a massive budget that calls for $6 trillion in federal spending this year, an unhinged-from-reality progressive wish-list. Biden’s budget will raise taxes on the middle class by allowing President Trump’s tax cuts for low- and middle-income Americans to expire. Included in Biden’s budget: Federal debt as a share of the economy would rise to its highest level in history by 2024, eclipsing a World War II-era record. Debt held by the public will rise to 117 percent of GDP by the end of FY 2031. This budget would add $1.3 trillion to the deficit over the next decade – the national debt would be $39 trillion by 2031. Spending would increase to $8.2 trillion, more than double what it was in any year of the Obama Administration. Federal spending would exceed $45,000 per household. Biden’s budget requests no new funding for the Department of Homeland Security (DHS) at a time when border crossings are at a 21-year high, an insult to our Border Patrol officers and immigration officials. When accounting for inflation, Biden’s budget cuts defense spending. Biden’s budget would use taxpayer money to fund abortions, a policy that a majority of Americans oppose. At a time when energy and gas prices are surging, Biden’s budget seeks to place $146 billion in taxes on traditional energy. The budget includes the permanent extension of new Obamacare subsidies, which mainly benefits the rich. Biden’s budget calls for radical health care proposals including the creation of a public option, but the White House failed to estimate how expensive they are, hiding the real cost to taxpayers. Biden’s budget also includes other far-left priorities: $400 million that can be used by state and local governments to establish gun buyback programs. $1.4 billion to pursue “environmental justice.” $2.4 billion to electrify Postal Service vehicles. $1.2 billion for the Green Climate Fund. Joe Biden’s budget breaks a key promise to not raise taxes on the middle class. Instead of working to put hardworking taxpayers first, Joe Biden has prioritized far-left special interests. RNC Research: What’s In Biden’s Budget? Print as a PDF