April 05, 2022

Biden's FY23 Budget: Energy Crisis

WASHINGTON, D.C. – Last week, President Biden released his fiscal year (FY) 2023 budget, which deliberately doubles down on the failed policies that have created an American energy crisis and led to the highest gas prices in 13 years. The cost of gas has increased 81 percent since President Biden took office – with the average price at the pump over $4 per gallon – that will cost American families an average increase of $2,000 per year. The President’s budget proposes making the current pain at the pump worse by proposing $45 billion in new taxes on domestic energy production while spending billions on green welfare for a far-left climate agenda.

“The high gas prices Americans are facing at the pump are the direct result of President Biden’s assault on domestic energy production. Despite attempts to deflect blame onto Russia, the cost of gas had already risen forty percent under Joe Biden before Russia invaded Ukraine. These rising costs have made it increasingly difficult for the American people to make ends meet and provide for their families. And now, President Biden has doubled down on his policies that attack American energy companies and make us more reliant on foreign nations for our energy needs. The President’s weak and ineffective response to the energy crisis shows that he views rising gas prices not as a pocketbook problem or national security threat, but rather as a political problem he would rather the American people just forget,” said House Budget Committee Republican Leader Jason Smith (MO-08).

President Biden’s budget attempts to smuggle through a radical climate agenda at the expense of American energy independence:

  • Imposes $45 billion in tax increases on American energy production.
  • Gives a 25 percent increase in funding to the Environmental Protection Agency (EPA).
  • Includes billions in Green New Deal spending on environmental justice projects, “clean energy” jobs, a nationwide network of electric vehicle (EV) chargers, climate resilient affordable housing, and a “civilian climate corps.”
  • Mentions “climate” 187 times and “climate crisis” 33 times while never mentioning “debt crisis” or “inflation crisis.”
  • Calls on Congress to pass Build Back Better, which spends over $500 billion on green welfare programs.
For more on Biden’s FY23 budget, click here.