March 17, 2021

President Biden’s Lack of Budget: A Historic Lack of Transparency

WASHINGTON, D.C. – House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement today after President Biden failed to submit any budget plan or outline to Congress as of March 16 – the latest a President has ever submitted an initial budget outline to Congress in the modern budget era. Since enactment of the Congressional Budget and Impoundment Control Act of 1974, every prior President has submitted at least an outline of their budget plan by March 16 of their first year in office. House Budget Committee Republicans recently sent a letter to President Biden calling on the President to be forthcoming about when his Administration will release its first budget.

“President Biden just signed nearly $2 trillion in deficit spending into law to bail out his allies and reward the political class, not the working class. He has announced a number of executive orders with real fiscal and economic consequences. It is no secret the Biden Administration and Washington Democrats are interested in enacting trillions more in spending on Green New Deal-like initiatives, further Washington intrusion into healthcare, and other such radical agenda items. What does not seem to be a priority for the President is being transparent with the American people about what all of this will cost and how he plans to budget for it. Rather than being left in the dark, American families deserve to know how high the Biden Administration will raise their taxes or how much it will borrow against the country’s future in pursuit of its agenda.”