In The News

Last week, President Biden released his $7.3 trillion budget for Fiscal Year 2025. Once again, the President’s budget promotes overspending and an increase in taxes that will only enhance inflation and limit economic growth.

By setting the stage for $1.6 trillion in deficit spending per year, the President’s plan will cause the debt to grow from $34,500,000,000,000 today to a whopping $52,700,000,000,000 by 2034. It even calls for $4.9 trillion in new taxes.

Americans around the country are still reeling from inflation rates that continue to come in hotter than expected. Even U.S. Treasury Secretary Janet Yellen regrets saying in 2021 that inflation was transitory. President Biden’s out-of-control spending proposal will cause inflation to rise and drive prices even higher.

Throughout my time in Congress, I have continually fought to increase fiscal responsibility. In the short-term, Congress can start by fostering economic growth and eliminating waste, fraud, and abuse in federal spending. Looking to the near future, we must make serious policy changes to reduce spending, balance the budget, and achieve a sustainable debt-to-GDP ratio.

To do this, I introduced the Fiscal Commission Act. This legislation sets up an equally bipartisan commission of elected officials and outside experts tasked with forming a proposal of policies to improve our nation’s fiscal situation in the long-term while ensuring the solvency of trust funds like Social Security and Medicare. If we do nothing, recipients of Social Security and Medicare will face automatic cuts when the trust funds exhaust their cash reserves in 2034 and 2031, respectively. Furthermore, I support a balanced budget amendment to the U.S. Constitution to improve accountability and oversight in the budget process.

These common-sense measures would force Congress to eliminate unnecessary and wasteful spending and make the decisions necessary to balance the budget and tackle our debt crisis.

If you need assistance navigating a federal agency, please contact my office in Holland at (616) 251-6741 or in Portage at (269) 569-8595, and sign up for my newsletter, the Huizenga Huddle, at Huizenga.House.Gov.