On Monday, after President Joe Biden unveiled his $7.3 trillion budget proposal for fiscal year (FY) 2025, House Republican leaders in Congress immediately rejected the high ticket spending proposal.
The $7.3 trillion proposal, the White House claims, "reduces the deficit by $3 trillion over the next 10 years." House Speaker Mike Johnson in coordination with the House Republican leadership released a statement rejecting the proposal.
"The price tag of President Biden's proposed budget is yet another glaring reminder of this Administration's insatiable appetite for reckless spending and the Democrats' disregard for fiscal responsibility. Biden's budget doesn't just miss the mark — it is a roadmap to accelerate America's decline."
"House Republicans reject Biden's misguided budget proposal and have taken action to steer our nation back to a path of fiscal sanity. Our efforts to rein in the runaway spending spree from last year's budget have already yielded results, lowering projected deficits by $2.6 trillion over the next decade. The House's budget plan for the next fiscal year, preceding the President's proposal, reflects the values of hardworking Americans who know that in tough economic times, fiscal discipline is non-negotiable. House Republicans understand the American people expect and deserve nothing less from their government," the statement concluded.
The New York Times reports that the budget is similar to last year’s proposal from the Biden administration which also did not go anywhere in Congress.
The White House cited decreases in the deficit since he took office in 2021 as a sign of progress in spending cuts. Although, aside from FY 2020 during the pandemic, the deficit levels in the Trump years are lower than the deficits in fiscal year 2022 and 2023.
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