Brevard Sun

Congressman Bill Posey has criticized President Biden's federal budget plan, stating that it would have detrimental effects on the American economy. The budget, as outlined by the House Majority Budget Committee, is projected to significantly increase the national debt from $34 trillion to nearly $53 trillion in just 10 years, representing a 55 percent increase. Posey expressed his concerns, saying, "There’s NO plan to reduce spending or balance the budget," and emphasized that "Congress must reject this plan."

The budget proposal includes substantial spending measures, with a historic $7.3 trillion allocation, which is a considerable rise from the previous year's $6.1 trillion expenditure. Additionally, the plan involves significant tax increases, with Posey highlighting that it would create "the largest tax increase in history - $4.9 trillion." He also raised issues regarding the allocation of $104 billion to the IRS for monitoring American taxpayers and the failure to address border security adequately while funding catch-and-release immigration policies.

Furthermore, Posey pointed out the adverse impact of the budget on American energy costs and independence, citing a $120 billion tax increase on American-made energy. He noted the irony of this increase following President Biden's veto of a bipartisan bill aimed at blocking tariff relief for Chinese-made solar panels.

Posey, who has consistently opposed funding bills due to concerns about the national debt, stressed the importance of fiscal responsibility in Washington. He stated, "Washington has a responsibility to leave a better nation for our children and grandchildren, 'not one on the brink of economic collapse.'"

In conclusion, Congressman Posey's critique underscores the significant challenges posed by President Biden's budget plan and calls for a reevaluation of the proposed measures to safeguard the nation's economic future.