A Busted Budget

Not long ago, I wrote about the unacceptable spending levels set by Democrats in appropriations bills, which annually fund the federal government. Now, just a few weeks later, the Democrats are moving forward with additional spending plans for fiscal year 2022 and beyond. The primary goal for Speaker Pelosi and President Biden is to enact a massive $3.5 trillion wish-list on top of the current federal spending. This is occurring only months after Democrats enacted President Biden's $1.9 trillion stimulus package, a major contributor to our economy's rising inflation.

Included in the Democrats' $3.5 trillion wish-list are sweeping new federal programs, such as more government-controlled health care and Green New Deal provisions. They plan to pay for this list of "free" programs annually through tax increases on hardworking Americans, including higher tax rates for small businesses and through the repeal of stepped-up basis, a tax code provision which ensures families aren't forced to sell their farm, ranch, or business when a loved one dies.

This new legislation would further fuel inflation, slow our recovery, and increase our deficit. Even without enacting their new government expansion, Democrats' proposed budget would facilitate a $1.75 trillion deficit next year based solely on their efforts to expand spending on existing federal government operations. With annualized inflation already at 7 percent, a thirteen-year high, we need to stop pumping more cash into the economy. To my disappointment, however, Democrats plan to instead burden Nebraskans by increasing the national debt and extracting more in taxes.

Now more than ever we should be seeing healthy economic growth as we emerge from the pandemic, and in response, we should reign in our spending. Instead, Democrats, who have not learned their lesson from the many problems caused by their last stimulus, are doing the opposite.

My colleagues and I recently returned to Washington, where I strongly opposed the partisan resolution to enact a budget authorizing a $3.5 trillion government expansion. While Democrats in the majority have the votes to defeat any amendments, I will continue fighting to stop this package and to make clear how damaging its provisions will be for Americans across the country. The last thing our economy needs right now is tax increases, and our country cannot afford new spending of this magnitude.