Natural State News

President Joe Biden’s $6 trillion budget proposal has legislators in both parties concerned -- some at the sheer size of the spending plan and others because of what’s not in the bill.

The plan raises the corporate tax rate 7% -- from the current 21% to 28% -- and, overall, the plan could push the deficit to $1.8 trillion next year. With nearly $3 trillion in proposed tax increases, the deficit is projected to run above $1.3 trillion for the next decade, according to a report by Fox Business.

“The president’s budget is another reminder of how committed his administration is to growing the size and scope of the federal government,” Sen. John Boozman (R-AR) said in a Facebook post. “This massive $6 trillion spending plan will increase our debt and deficit, raise taxes and give Washington more authority to dictate what happens in our economy and daily lives. Additionally, the president proposes ending the ban on taxpayer dollars funding abortion – an appalling and outrageous decision to violate the consciences of many Arkansans – while also declining to fund our national defense at an adequate level,” said Sen. John Boozman (R-AR, in a Facebook post.

Administration officials are sounding alarms about a proposal pushed by Republican lawmakers too – citing a lack of funding for veterans’ homes and elder care as a problem, and potential pay-fors, according to Fox Business.

“Democrats have told us they prefer not to let a crisis go to waste, and we should believe them. Now, as we’re reopening our country and the economy is rebounding, the Biden administration believes an ebbing crisis is justification enough to pursue its liberal wish-list policy agenda,” said Boozman. “Despite its insistence that these demands are urgent and will be paid for by only the wealthy, we know better. I will continue to insist that the federal government protect hardworking Americans’ interests and pursue responsible, bipartisan priorities.”

The Democrats have a slim majority in both the House and Senate and could approve the proposed budget without Republican support, although Biden has said he wants to see a bipartisan deal on this budget. The budget projects a 5.2% growth in the economy this year and 4.3% in 2022.