Cole Statement on President Biden’s FY 2023 Budget

Washington, D.C. – Congressman Tom Cole (OK-04), Vice Ranking Member of the House Appropriations Committee, released the following statement after President Joe Biden submitted his fiscal year 2023 budget request to Congress.

"Although inflation continues to surge at a 40-year high and gas prices are the most expensive they have ever been, in his fiscal year 2023 budget request President Joe Biden still chose to double down on damaging policies and out-of-control spending that would further cripple our economy. While his irresponsible and bloated budget stands no chance of passing either chamber, the $5.8 trillion proposal does indicate what the president views as important. And unfortunately, his budget is deeply out of touch with the priorities and values of the American people, who are directly suffering as a result of the crises created and mismanaged by his administration.

"While I was glad the president proposed more for defense than he did last year, his request still falls far short of our country's actual needs on that front. Meanwhile, his budget aims to collect $58 trillion in taxes from families and businesses over the next 10 years, which would further squeeze hardworking Americans and give them even less buying power. And although President Biden claims his budget demonstrates his commitment to fiscal responsibility, our nation's already astounding $30 trillion debt would actually grow to at least $45 trillion by 2032. Beyond that, there are numerous items that I simply cannot support, including the misguided recommendation that basic medical research at the National Institutes of Health receives nearly flat funding.

"If President Biden truly wanted to help the American people, he would abandon reckless spending, strengthen defense and focus on solutions to reverse inflation. After failing to garner bipartisan support for the priorities contained in his budget last year, I hoped he would take a different approach."

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