{"id":1415150,"date":"2022-04-01T15:00:33","date_gmt":"2022-04-01T19:00:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1415150"},"modified":"2022-04-01T15:01:04","modified_gmt":"2022-04-01T19:01:04","slug":"bidens-budget-proposal-has-3-huge-red-flags-experts-say","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-budget-proposal-has-3-huge-red-flags-experts-say\/","title":{"rendered":"Biden\u2019s Budget Proposal Has 3 Huge Red Flags, Experts Say"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-budget-proposal-has-3-huge-red-flags-experts-say%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1415150&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><ul>\n<li><strong>President Joe Biden\u2019s new budget proposal contains three major red flags, according to experts who spoke with the DCNF.<\/strong><\/li>\n<li><strong>The raising of taxes, particularly as China lowers its own, will make the U.S. less competitive on the world stage, Stephen Moore, former economic adviser to President Donald Trump and current senior economist for FreedomWorks, told the DCNF.<\/strong><\/li>\n<li><strong>\u201cWe\u2019re literally paying people not to work now,\u201d Richard Stern, a senior policy analyst in the Grover M. Hermann Center for the Federal Budget at The Heritage Foundation, told the DCNF in regards to the amount of spending in the proposal.<\/strong><\/li>\n<li><strong>As Biden fails to get his agenda through Congress, much of the \u201cleftist transformational\u201d priorities have been worked into the budget, Stern explained.<\/strong><\/li>\n<\/ul>\n<p>President Joe Biden\u2019s recently unveiled budget includes massive tax hikes, untrammeled government spending and \u201cleftist\u201d agendas, raising serious red flags, experts told the Daily Caller News Foundation.<\/p>\n<h3>Taxes<\/h3>\n<p>The <a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2022\/03\/budget_fy2023.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">budget<\/a> would raise the corporate tax rate to 28%, while the top income tax rate would rise to 39.6%. It includes 36 new tax hikes on American individuals and businesses, totaling roughly $2.5 trillion over the next decade, <a href=\"https:\/\/www.atr.org\/biden-budget-calls-for-36-tax-hikes-totaling-2-5-trillion\/\" target=\"_blank\" rel=\"noopener noreferrer\">according<\/a> to a review by the conservative Americans for Tax Reform (ATR).<\/p>\n<p>\u201cWorkers bear about 70% of the cost of the corporate income tax, in the form of lower wages and fewer jobs,\u201d Isabelle Morales, a policy communications specialist at ATR, told the Daily Caller News Foundation. \u201cThat\u2019s not exactly what workers need right now.\u201d<\/p>\n<p>Morales noted the budget includes 11 new taxes on the American <a href=\"https:\/\/dailycaller.com\/2022\/03\/28\/joe-biden-budget-green-climate-fund-energy-projects\/\" target=\"_blank\" rel=\"noopener noreferrer\">energy sector<\/a>. \u201cAnd that\u2019s while Americans struggle to fill their gas tanks and the administration is begging foreign countries to sell us more oil,\u201d she said.<\/p>\n<p>A new 20% minimum tax would also be levied on households worth more than $100 million to address the \u201cspecial treatment for the types of income that wealthy people enjoy\u201d in the tax code.<\/p>\n<p>Stephen Moore, former economic adviser to President Donald Trump and current senior economist for FreedomWorks, told the DCNF that the proposed budget would make the U.S. less competitive on the world stage as China takes steps to increase its power.<\/p>\n<p>The Chinese Communist Party announced 2.5 trillion yuan ($393.3 billion) in tax cuts, making 2022 the fifth year the country has decreased taxes, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-21\/china-embraces-supply-side-economics-with-tax-cuts\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a>. Cumulatively, the cuts add up to 9.7 trillion yuan, which is more than the 2017 <a href=\"https:\/\/www.congress.gov\/115\/bills\/hr1\/BILLS-115hr1enr.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Trump tax cuts<\/a>, at the current exchange rate.<\/p>\n<p>\u201cChina\u2019s cutting their taxes and we\u2019re raising them. How\u2019s that going to make America more competitive against our chief adversary?\u201d Moore said. <strong><a href=\"https:\/\/dailycaller.com\/2022\/03\/29\/joe-biden-gasoline-prices-tax-credits-oil-drillers\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Biden Calls For Raising Taxes On Oil Drillers Amid Energy Crisis)<\/a><\/strong><\/p>\n<div id=\"attachment_7401526\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-7401526\" class=\"wp-caption-text\">Stephen Moore, Distinguished Visiting Fellow for Project for Economic Growth at The Heritage Foundation, has a conversation with Acting White House Chief of Staff Mick Mulvaney on stage at the Conservative Political Action Conference 2020 (CPAC) hosted by the American Conservative Union on February 28, 2020 in National Harbor, MD. (Photo by Samuel Corum\/Getty Images)<\/p>\n<\/div>\n<h3>Spending<\/h3>\n<p>Out of the $2.5 trillion in new tax revenue projected, about $1.5 trillion will go towards new spending, Marc Goldwein, senior vice president of the Committee for a Responsible Federal Budget, a group that advocates lower deficits, <a href=\"https:\/\/www.washingtonpost.com\/us-policy\/2022\/03\/28\/biden-budget-white-house\/\" target=\"_blank\" rel=\"noopener noreferrer\">told<\/a> The Washington Post.<\/p>\n<p>The budget includes roughly $1.6 trillion in domestic spending, distributed towards initiatives like anti-gun violence, affordable housing and climate change. It also includes a 10% increase in military spending amid Russia\u2019s invasion of Ukraine.<\/p>\n<p>\u201cWe\u2019ve so vastly expanded \u2026. Medicaid, unemployment benefits, food stamps \u2026 we\u2019re literally paying people not to work now,\u201d Moore told the DCNF. \u201cAnd we\u2019ve got to get back to work requirements. There\u2019s no work requirements in any of these programs.\u201d<\/p>\n<p>As <a href=\"https:\/\/dailycaller.com\/2022\/03\/28\/white-house-joe-biden-budget-russia-putin\/\" target=\"_blank\" rel=\"noopener noreferrer\">inflation<\/a> reaches <a href=\"https:\/\/dailycaller.com\/2022\/03\/10\/bureau-labor-statistics-inflation-consumer-price-index\/\" target=\"_blank\" rel=\"noopener noreferrer\">highs not seen in decades<\/a>, critics of the budget said the magnitude of the administration\u2019s spending goals is unsustainable and will only raise prices for consumers.<\/p>\n<p>\u201cIrresponsible, pure disaster,\u201d Richard Stern, a senior policy analyst in the Grover M. Hermann Center for the Federal Budget at The Heritage Foundation, a conservative think tank, said of the budget to the DCNF. \u201cInflation is too many dollars chasing too few goods and services. The enormous regulations and the enormous taxes of this budget would just constrain what we can produce.\u201d<\/p>\n<p>The budget does, however, include a proposal that would reduce the national deficit by roughly $1 trillion over the next decade through changes in the tax code.<\/p>\n<p>\u201cIt was the previous administration whose reckless policies and mismanagement led to the record deficits,\u201d Biden <a href=\"https:\/\/www.youtube.com\/watch?v=k02oD0FOPP0&#038;ab_channel=PoliticusMedia\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> at a news conference on Friday.<\/p>\n<p>Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget, told the DCNF she appreciated the attention towards deficit reduction, but questioned its feasibility.<\/p>\n<p>\u201cEven if it were realistic, we\u2019d still be borrowing another 14 plus trillion dollars over the next decade under their budget and that\u2019s just too much by any accounts,\u201d she said. \u201cAnd so, I know it\u2019s not a problem by their making, but they need to do something to fix it.\u201d<\/p>\n<p>The budget includes a \u201creserve for legislation that reduces costs, expands productive capacity, and reforms the tax system,\u201d which Morales said can only be assumed to be a \u201cplaceholder for Build Back Better.\u201d<\/p>\n<div id=\"attachment_7401528\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-7401528\" class=\"wp-image-7401528 size-full\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/GettyImages-1388609019-scaled-1.jpg\" alt=\"OMB Director Young Testifies Before Senate Budget Committee\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/GettyImages-1388609019-scaled-1.jpg 2560w, https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2022\/03\/GettyImages-1388609019-180x120.jpg 180w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/GettyImages-1388609019-620x413-1.jpg 620w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/GettyImages-1388609019-768x512-1.jpg 768w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/GettyImages-1388609019-1536x1024-1.jpg 1536w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/GettyImages-1388609019-2048x1365-1.jpg 2048w\" \/><\/p>\n<p id=\"caption-attachment-7401528\" class=\"wp-caption-text\">Director of the Office of Management and Budget (OMB) Shalanda Young is testifying before the Senate Budget Committee at the Dirksen Senate Office Building on March 30, 2022 in Washington, DC. (Photo by Kevin Dietsch\/Getty Images)<\/p>\n<\/div>\n<h3>\u2018Leftist\u2019 Agendas<\/h3>\n<p>With many of Biden\u2019s legislative priorities <a href=\"https:\/\/dailycaller.com\/2022\/02\/01\/joe-manchin-build-back-better-dead\/\" target=\"_blank\" rel=\"noopener noreferrer\">stalled in Congress<\/a>, much of the budget is allocated to following through on liberal priorities, particularly <a href=\"https:\/\/dailycaller.com\/2022\/02\/01\/house-democrats-joe-biden-climate-change-build-back-better\/\" target=\"_blank\" rel=\"noopener noreferrer\">climate change<\/a>. About $45 billion is being allotted across the federal government to address the issue, an increase of $16.7 billion over 2021.<\/p>\n<p>The budget would boost <a href=\"https:\/\/dailycaller.com\/2022\/03\/28\/joe-biden-budget-green-climate-fund-energy-projects\/\" target=\"_blank\" rel=\"noopener noreferrer\">international climate spending<\/a> by more than $11 billion, which would quadruple previous U.S. global green commitments. It also sets up a Low-Income Home Energy Assistance Program, setting aside $100 million to \u201celectrify and decarbonize low-income homes,\u201d with the goal of lowering energy costs and saving taxpayer dollars.<\/p>\n<p>Morales accused the Biden administration of using climate spending as a \u201ccrutch for all that they\u2019ve done to destroy oil and gas and other forms of energy here at home.\u201d <strong><a href=\"https:\/\/dailycaller.com\/2022\/03\/14\/democrats-progressive-caucus-joe-biden-climate-change\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: \u2018This Can\u2019t Wait\u2019: Dozens Of Democrats Implore Biden To Restart Climate Talks)<\/a><\/strong><\/p>\n<p>The Department of Health and Human Services would receive $470 million towards advancing maternal health and health equity, in part by implementing \u201cimplicit bias training for healthcare providers.\u201d The Department of Education allocates $100 million for a grant program that aims to \u201cpromote racial and socioeconomic diversity\u201d in schools.<\/p>\n<p>Funding for the Title X Family Planning program would increase by 40% from 2021, for a total of $400 million, in order to \u201cimprove overall access to vital reproductive and preventive health services and advance gender and health equity.\u201d<\/p>\n<p>\u201cThat\u2019s money that goes, vast majority, to entities that perform abortions and help abortion providers,\u201d Stern said. He criticized the budget proposal for the number of times it included words like \u201cequity\u201d and \u201cgender,\u201d used 75 and 43 times, respectively.<\/p>\n<p>\u201cIt\u2019s not a fiscal framework, it\u2019s one of their leftist transformational \u2026 documents,\u201d he said.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden\u2019s new budget proposal contains three major red flags, according to experts who spoke with the DCNF. The raising of taxes, particularly as China lowers its own, will<\/p>\n","protected":false},"author":205,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1415150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1415150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/205"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1415150"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1415150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1415150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1415150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1415150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}