March 28,2022

Crapo on FY2023 Budget Request: Record-High Tax Hikes on top of Record-High Inflation

Washington, D.C.--U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, issued the following statement on President Biden’s FY2023 budget request:   

“Once again, the Administration is proposing trillions of dollars in new spending, coupled with job-killing tax hikes.  Far from deficit neutral, the proposal includes a placeholder for the reckless tax-and-spend legislation that stalled after passing in the House on a party-line vote, hiding the true cost of the President’s budget request.  The irresponsible result is a budget that would produce trillion-plus dollar deficits as far as the eye can see and ever-growing federal debt as a share of the overall economy.  Worse, these tax-and-spend proposals come on top of record-high inflation, a stealth tax that is hitting Americans from the gas station to grocery stores.   

“Families and small businesses need the government to take real steps to fight inflation, address our ballooning debt crisis, and rein in unsustainable spending.”