WASHINGTON, D.C. — Senator John Hoeven issued the following statement after President Biden released his $5.8 trillion budget for Fiscal Year 2023:
“The Biden administration is taking our nation in the wrong direction, with inflation at a 40-year high and individuals and families facing increased costs for food and energy. This budget proposal continues the administration’s big government spending and proposes $2.5 trillion in tax increases. This budget would put our nation at a competitive disadvantage, further undermine domestic energy production by targeting our oil and gas producers and result in even higher prices as the costs are passed down to consumers. It also targets our farmers by eliminating stepped-up basis and limiting the use of 1031 like-kind exchanges. The national debt would continue to grow as the administration prioritizes Green New Deal initiatives and other liberal policies that do not take the right approach for our nation.”
