For Immediate Release: March 29, 2022
Contact: Ryan Hite, Communications Director
Largest Tax Hike in History Spends Billions on Radical Environmental Agenda
Washington, D.C.: “The massive $5.8 trillion budget set forward by the Biden Administration is more accurately described as a leftwing spending spree,” said Ed Martin, president of Phyllis Schlafly Eagles. “Biden claimed during the financial announcement that this plan would ‘return our fiscal house to order,’ but it’s hard to imagine how they square that with reality.
“What President Trump did to slash corporate taxes and unleash the job creators, President Biden is reversing at breakneck speed. The Biden proposal raises taxes by $2.5 trillion — the largest tax hike in history — and places that burden squarely on the businesses that keep Americans paid. Instead of focusing on better wages and expansion of jobs, CEOs and management will be pinching pennies and cringing in wait of tax season.
“On the spending front, the budget includes astronomical amounts of money flowing to the left’s green energy pipe dream. They’re even planning to send billions to international climate causes! All of this while the Biden Administration continues to hold the American energy sector hostage.
“Working Americans are praying at the pump that they have money to put gas in their tanks. They don’t want a $1.6 billion contribution to the Green Climate Fund or $3.2 billion in loans to the Clean Technology Fund. They want President Biden to stop hogtying American oil and gas companies. They want the White House to stop taxing job creators who are America’s source of wealth!
“Let profits flow back into growth, expansion, more jobs, and more services! It’s just basic economics, but Joe Biden isn’t interested. His only goal appears to be spending America into the ground. Every sane member of Congress needs to speak up and stop this atrocious $5.8 trillion plan!”