Friday, June 4, 2021                                                          WEBSITE | SHARE ON:  
 
Foxx Report
 

Crafting an effective budget is about setting realistic priorities, clearly communicating the facts, and working to nip runaway government spending in the bud. Unfortunately, President Biden’s $6 trillion budget proposal, that was released just last Friday, fails to meet those imperatives. Right now, if this nation does not get its fiscal house in order, the growth of the federal government, as well as its spending habits, will balloon to new and dangerous heights. I want to share with you some facts that are outright concerning, and ones that I believe you need to know about the President’s newest budget proposal:

$69 TRILLION IN SPENDING OVER 10 YEARS:

  • Government spending would be over $6 trillion every year.
  • Government spending would be equal to 25% of the US GDP by 2031.
  • Government spending more on non-defense agencies every year.

$17 TRILLION IN NEW DEBT BY 2031

  • $1.3+ trillion deficits every year for the next 10 years.
  • Interest payments on debt rise to $914 billion by 2031.
  • $3.7 trillion deficit this year, highest in American history.
  • $39 trillion total debt held by public by 2031.
  • Debt would be 117% of U.S. economy, highest in history.

$55 TRILLION IN TAXES OVER 10 YEARS

  • The highest sustained tax burden in American history, by far.
  • Nearly doubles tax collections over 10 years.

PROJECTS A WEAK ECONOMY

  • 1.9% projected yearly economic growth for majority of the next 10 years.

Fiscally responsible policies, a dynamic and growing workforce, and unparalleled opportunities in education are what the American people demand right now. Unfortunately, President Biden believes that hamstringing hardworking taxpayers and families is a more viable approach. His budget is nothing more than a costly sham that will bankrupt the country even further. The American people deserve more than this egregious abdication of leadership.

Memorial Day Resolution

Every year, on Memorial Day, we pay tribute to America’s fallen heroes and remember the countless sacrifices they made in the line of duty to protect this great country. Simply put, Memorial Day is not another day on a calendar that we cross off – it’s much more than that. In honor of the countless men and women who lost their lives defending America, and their commitment to protecting the very freedoms we are proud to espouse, I’ve cosponsored Representative Michael Guest’s resolution to pay tribute to these heroes. As Americans, and proud patriots, we owe these heroes a profound debt of gratitude, and its up to us to carry on the mission of protecting America in their stead.

A New Letter from Oversight Committee Republicans

On Wednesday, Republican members of the House Oversight Committee sent a letter, for the third time, to Chairwoman Maloney demanding a hearing on President Biden’s border crisis. The level of inaction on protecting the border, and providing answers to the American people, is truly staggering. From the time of our first letter on March 4th of this year, the number of unaccompanied children in U.S. custody at the southern border has tripled in size. This is a clear lapse in accountability, and in implementing substantive policy decisions. It’s time for answers. To read our letter, click here.

Quote of The Week

“We are becoming so accustomed to millions and billions of dollars that 'thousands' has almost passed out of the dictionary.”

-Senator Everett Dirksen

Have a blessed weekend.

Sincerely,
 
 
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