Massive Spending Increases

How Biden’s Budget Busting Reconciliation Hurts the Economy, Families and Individuals

Massive Spending Increases

Passage of the reconciliation package represents a reckless tax and spending spree that would implement controversial partisan policies that give politicians and bureaucrats more power over American families and workers.

  • Whenever the government spends money, it spends somebody else’s money—in other words, your hard-earned money.
  • The current fiscal trajectory is already unsustainable. This spending comes on top of more than $5 trillion that was passed in the wake of the COVID-19 pandemic and more than $1 trillion for infrastructure that could be passed later this month. All of this would add over $9 Trillion to the $28 trillion national debt.

The goal of this big-government proposal is to put more of the economy’s resources under the control of politicians and bureaucrats rather than the private sector. Some examples:

  • Green New Deal–style policies like a clean electricity standard payment program, a carbon tax, new taxes and fees on oil and gas, more subsidies and tax breaks for green energy and electric vehicles, a new Civilian Climate Corps, and climate research and development (R&D) programs across the federal government. 
  • Expanded Medicare and Obamacare subsidies, which would benefit higher-income individuals who already have private insurance; federalized paid family leave that could have unintended consequences; and universal pre-K and significant child care subsidies that could push children into environments that don’t reflect parents’ preferences. 

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