Press Releases
Biden’s Budget: An Economy That’s Weak
President Biden’s budget doubles down on Democrats’ reckless spending and failed economic policies that continue to: Weaken the economy Projects anemic economic growth of 0.4 percent this year and an average of 2.1 percent over the next decade. This is well below both the 50-year average of 2.7 percent and the averages of all but one decade since the 1950’s. Fuel Inflation Proposes adding fuel to the inflationary fire with $17 trillion in deficits over the decade, … Continue Reading
March 09, 2023
Biden Budget: A Weaker, More Vulnerable America
An Economy That's Weak The Biden administration has destroyed the American economy, causing 15 consecutive months of 40-year high inflation. Prices for groceries, gas, and other household necessities have skyrocketed and continue to burden American families. The Biden administration has proposed trillions of dollars in new spending, which will add to the already record-high national debt. This reckless spending spree will burden future generations with massive interest payments, a … Continue Reading
March 09, 2023
Biden Budget Top Ten
President Biden’s FY 2024 Budget contains the highest sustained levels of taxes, spending, and deficits in American history: Spending: $82 trillion* or 25 percent of GDP (18% above 50-year average) Taxes: $65 trillion* or 20 percent of GDP (13% above 50-year average) Deficits: $17 trillion* or 5 percent of GDP (44% above 50-year average *over 10 years Saddles more than a million small businesses with higher tax rates, higher payroll taxes, and ends the … Continue Reading
March 09, 2023
Arrington: President’s Budget DOA in Republican House
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement today on President Biden’s Fiscal Year 2024 budget, which was not only submitted late, but is incomplete and missing the supplemental documentation traditionally included to illustrate how the budget would be implemented. “For two years, President Biden went on a massive, nonstop tax and spending spree. His new budget contains the highest sustained levels of taxes, spending, and deficits in … Continue Reading
March 08, 2023
CHAIRMAN ARRINGTON ON AMERICA'S DEBT CRISIS: "WE ARE AT AN INFLECTION POINT"
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX), today joined House Republican Leadership for a press conference following a bipartisan briefing from Director Phillip Swagel of the Congressional Budget Office (CBO). This briefing for all Members of the House discussed budget, the economy, and the budgetary effects of legislative changes and comes a day before the release of the President's budget proposal. Click here or read below for Arrington's full … Continue Reading
March 08, 2023
The Past is Prologue: Biden’s Woke and Bloated Bureaucracy
In November, President Biden emphatically said he would change “nothing” in his agenda. His budget this week will prove that point. More government. Less freedom. Slow economic growth. Funding the Woke Agenda at Taxpayer Expense The responsibility to spend the taxpayers’ money is the key to everything the government does. The Constitution makes clear that the government is supposed to only spend funds on things that benefit all Americans in carrying out the enumerated powers. … Continue Reading
March 07, 2023
The Past is Prologue: Biden's Deficit Spending Record
When President Biden was asked what he we would do differently in the next two years, he responded emphatically, “nothing.” It’s safe to say the President’s budget will advance his radical agenda with record-breaking deficit spending, tax-hikes, and increases in the national debt. Historic Taxes, Spending, and Deficits Over ten years, President Biden’s FY 2023 budget proposed: Spending: $73 trillion or 23.4 percent of GDP—highest sustained level in American history. Taxes: $58 … Continue Reading
March 06, 2023
The Past is Prologue: Record of Raising Taxes
When asked what he we would do differently the next two years, President Biden responded, “nothing.” It's safe to say the President’s Budget will include more of the same tax policies that have increased the burden on working- and middle-class American families, added an army of new IRS agents, targeted small businesses, employers, and investment in the future for higher taxes, all while creating new giveaways for special interests. Tax Increases on Working and Middle Class Americans … Continue Reading
March 06, 2023
The Past is Prologue: A Tragic, Shakespearean Spending Story Authored by the Biden Administration
History destined to repeat itself is best defined by the Shakespearean euphemism, “what’s past is prologue.” And unfortunately, President Biden’s spending habits have become the embodiment of this cautionary tale. It’s as if, “rinse and repeat” appear at the end of every Biden budget and include more taxes, more spending, and more borrowing from our children to pay for it all. When asked recently if he would do anything differently while saddling our nation with five trillion dollars in … Continue Reading
March 02, 2023
Fiscal State of the Union: Biden's Real-Wage Decline
Inflation continues to decimate American’s standard of living. Real wages - the amount people are paid when adjusted for inflation - are falling as well. Since President Biden took office in January 2021, the increase in prices due to inflation is over 14%, resulting in a loss in real wages of nearly 4%. Average hourly wages have only risen by 10% as of January 2023. This graph shows the decline in real wages since January 2021. This loss in real wages is not limited to one segment of … Continue Reading
February 27, 2023
How to Avoid Financial Armageddon and Restore Fiscal Accountability
By: Chairman Jodey Arrington (TX) February 27, 2023 As seen in The Hill “A public debt is a public curse.” So said James Madison in a letter to Henry Lee in 1790. At the time, the new American government was struggling to pay off its $75 million debt to the French, a country which had its own problems dealing with an increasingly violent revolution. I doubt Madison could have envisioned how successful his experiment in republican governance would become, one that would finance much … Continue Reading
February 24, 2023
Arrington: Biden's Fiscal Policies Mean More Economic Pain For American Families
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement upon news that Americans continue to suffer from increasing inflation. The Personal Consumption Expenditures (PCE) price index, the Fed’s preferred measure of inflation, released this morning shows prices continue to climb and are now 5.4 percent higher than they were a year ago. “Virtually every economic indicator we have seen over the last few weeks - from GDP, to the CBO Baseline, to the … Continue Reading
February 17, 2023
A Week in Review: CBO Baseline Sounds Alarm on Democrats' Egregious Spending
This week, the Congressional Budget Office (CBO) released their latest Budget and Economic Outlook report, commonly referred to as the baseline. CBO’s baseline shows that out-of-control spending by the Biden administration and Democrats during just two years of one-party rule has exploded the national debt to unprecedented and truly unsustainable levels. The national debt is now projected to increase from $24.3 trillion in 2022 to $46.4 trillion by 2033. WHAT OUR MEMBERS ARE SAYING ABOUT … Continue Reading
February 15, 2023
Arrington on CBO Baseline: "Houston, We Have a Problem"
WASHINGTON - Today, the Congressional Budget Office (CBO) released their latest Budget and Economic Outlook report, commonly referred to as the baseline. Today’s baseline report – which includes projections of federal spending, revenue, surpluses or deficits, and debt – shows that out-of-control spending by President Biden and Democrats during two years of one-party rule has exploded the national debt to unprecedented and truly unsustainable levels. House Budget Committee … Continue Reading
February 14, 2023
Arrington: CPI Shows Biden Economy Continues to Punish Working Americans
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX), issued the following statement after the Consumer Price Index (CPI) showed inflation continuing at a forty- year high for the 15th consecutive month. “Hardworking Americans continue to pay the price for Democrat’s unbridled spending with higher consumer costs, lower wages, and a stagnate economy. Inflation is running at 6.4 percent, the highest rates in forty years for the 15th consecutive month. Real Wages have … Continue Reading
February 13, 2023
THE CBO BASELINE AND ECONOMIC OUTLOOK
WHAT IS THE CBO BASELINE? The Congressional Budget and Impoundment Control Act of 1974 (Budget Act) requires the Congressional Budget Office (CBO) to provide the House and Senate Budget committees with a Budget and Economic Outlook. This annual report, which helps Congress understand the fiscal and economic challenges facing the country, is also known as the CBO baseline. CBO updates the baseline every year. The CBO will release the updated baseline on Wednesday, February 15th. PURPOSE … Continue Reading
February 09, 2023
Chairman Arrington Lays Groundwork for Budget Committee Priorities
WASHINGTON - Today, Chairman Jodey Arrington (TX) and Members of the House Budget Committee held their first official meeting to consider the Rules of the Committee and the Oversight Plan for the 118th Congress. During his opening remarks, Chairman Arrington emphasized the importance of this committee's role as Americans face runaway deficit spending and an unsustainable debt trajectory. Click here to watch Arrington's full remarks Chairman Arrington's opening remarks as … Continue Reading
February 08, 2023
The Debt Limit and Fiscal Restraint
House Republicans will pay our debts and protect the good faith and credit of the United States, but we will not give President Biden an unlimited line of credit. After two years and $10 trillion of unbridled spending by Democrats, which led to record inflation, soaring interest rates, and an economic recession, it would be irresponsible to raise the debt limit without common sense spending controls. Why? Our federal debt is now over $31 trillion, levels we have not seen since World War II … Continue Reading
February 07, 2023
Arrington: Biden Describes Alternate Reality in State of the Union
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX), issued the following statement in response to President Biden’s State of the Union Address: "After listening to President Biden tonight, I have a few simple questions for American taxpayers and hard-working families: Have your lives gotten better or worse under the leadership of President Biden? Is our nation stronger or weaker? Is our children’s future brighter or more bleak? "We certainly have more government, more … Continue Reading
February 07, 2023
Arrington: President Biden Must Focus on Nation’s Debt Crisis in SOTU
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX), issued the following statement ahead of President Biden’s State of the Union Address: “At tonight’s State of the Union, President Biden will tout a façade of short-term economic upsurge, but the American people are experiencing a very different reality: the state of our economy is anemic. “States like Illinois and Nevada continue to be plagued by record unemployment rates; New York City has transformed into a war zone; … Continue Reading
