TPA Slams President Biden’s FY 2023 Budget Proposal

For Immediate Release                                                                             Contact: Abigail Graham: (202) 417-7235

March 28, 2022                                                                                                            

Washington, D.C. – The Taxpayers Protection Alliance (TPA) responded to President Biden’s budget proposal for 2023. The proposal calls for massive new spending and radical changes to the tax code.

TPA President, David Williams, offered the following statement:

“This budget is a slap in the face to taxpayers and consumers. While Presidents’ budgets are obviously wish lists with little chance of becoming law, it’s still concerning to see such outlandish priorities from the Biden administration, especially at a time like this. With Covid-19 wreaking havoc on supply chains, war in Europe, and recession indicators flashing red, the last thing Americans need is instability and inflationary pressure from government. This budget tells business owners to buckle up and raise prices to deal with more taxes and more inflation, perpetuating the vicious inflationary cycle we are in.

“President Biden’s budget proposal calls for increased spending across the board. As we’ve seen time and time again, continued reckless federal spending will only perpetuate the economic problems Americans now face such as inflation. While the temptation to bolster defense spending is obvious given the invasion of Ukraine by Russia, there has yet to be any meaningful efforts to address rampant waste, fraud, and abuse at the Pentagon. Continuing to ignore this reality and rewarding it with additional taxpayer dollars does not strengthen our national defense.

“Included in the budget is a wealth tax which would fundamentally change Americans’ relationship with the federal government. Wealth taxes are invasive, inefficient sources of revenue and have been largely abandoned by other countries that have tried them. Taxing productive assets and investments held by American entrepreneurs is a recipe for disaster, especially at a time like this.

“This administration continues to live under the delusion that it was given a mandate to radically reshape and expand the federal government. The President’s sinking approval ratings unfortunately have given his administration the necessary pinch to wake them up, as this budget proposal clearly demonstrates.”

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 Taxpayers Protection Alliance (TPA) is a non-profit, non-partisan organization dedicated to educating the public through the research, analysis and dissemination of information on the government’s effects on the economy.