US House Speaker McCarthy Says Biden's Budget Proposal 'Completely Unserious'

WASHINGTON (Sputnik) - US President Joe Biden’s proposed budget that includes trillions in new taxes is completely unserious, House Speaker Kevin McCarthy said on Thursday.

"President Biden just delivered his budget to Congress, and it is completely unserious. He proposes trillions in new taxes that you and your family will pay directly or through higher costs," McCarthy said in a statement via Twitter. "Mr. President: Washington has a spending problem, NOT a revenue problem."

McCarthy also released a statement alongside House Majority Leader Steve Scalise and other top House Republicans opposing the proposed budget.

“Our debt is one of the greatest threats to America and the time to address this crisis is now. Yet, President Biden is proposing out of control spending and delaying debt negotiations, following his pattern of shrugging and ignoring when faced with a crisis,” the statement said.

Earlier on Thursday, Biden released his budget proposal, which includes billions in funding for Ukraine and a 3.2% Defense Department funding increase. The budget proposal comes as the US approaches a default on its national debt, which stands at approximately $31.46 trillion, according to Treasury Department data.

Biden’s budget doubles down on spending policies that have led to the debt crisis and record inflation, the statement said.

Biden has also called on Republicans to release a budget proposal of their own. The Republican budget proposal may include a 45% cut to foreign aid and nearly halve the FBI’s counterintelligence funding among other spending reductions, US media reported on Wednesday.