RSC 2022 Budget Proposal aims to cut $2T taxes over 10 years, balance budget in 5 years

RSC 2022 Budget Proposal aims to cut T taxes over 10 years, balance budget in 5 years

File – Rep. Jim Banks (R-Ind.) is pictured. (Tom Williams/CQ Roll Call via AP Photos)

OAN Newsroom
UPDATED 7:53 AM PT – Thursday, May 20, 2021

The GOP isn’t waiting for Democrats to get to work, they are stepping up and proposing solutions to the nation’s biggest problem: the budget crisis. House Republicans recently revealed their answer to Joe Biden’s massive 2022 budget proposal.

“The sovereign debt crisis will not only compromise the national security of the greatest nation in the world, it will jeopardize our freedoms, our prosperity and our way of life,” asserted Rep. Jody Arrington (R-Texas).

In their 2022 budget proposal, the Republican Study Committee (RSC), lead by Rep. Jim Banks (R-Ind.), drafted a letter to all Americans outlining the damage done by the Democrats in just the few short months they have held the majority.

The RSC pointed out, so far, lawmakers have added more than $4.7 trillion to the national debt through legislation spurred by the pandemic. For comparison, it took 219 years, from the founding of our nation in 1776 until 1995, to accumulate that amount of federal debt.

During a press conference for the budget’s unveiling, Rep. Greg Steube (R-Fla.) made clear that the proposal would adhere to American values and balance the budget.

“Aside from producing a budget that cuts taxes and balances the budget in five short years, we showcase our conservative values,” stated the Florida lawmaker. “Including initiatives to support pro-life efforts, protect our Second Amendment and commit to securing our border.”

Rep. Arrignton pointed out that the increasing partisan divide had eroded the American people’s confidence in their leadership. According to the RSC’s budget, however, the GOP has hope that despite the Democrats’ behavior a balanced budget can be reached and the the Republicans are willing to work for it.

“I can go through the list of things that need to be changed at the fundamental group level that are causing this dysfunction,” Arrignton stated.

The theme throughout the 157 page proposal is clear: deregulation will lead to economic freedom and prosperity. Among a number of other deregulatory proposals, the RSC plans to scale back Dodd Frank, oppose any attempts to implement Rep. Alexandria Ocasio-Cortez’s (D-N.Y.) Green New Deal and end the provisions that allow employers to mandate union membership as a condition of employment.

The RSC went on to say, “tragically the federal tax code is riddled with carve outs and subsidies inspired by corporate cronyism.” To remedy this, Republicans are looking to reduce taxes by nearly $2 trillion over the next 10 years and eliminate the Democrats’ infamous “death tax.”

While the budget is sure to face opposition as it makes its way through committee, the men and women of the RSC are willing to do whatever it takes and are optimistic in their ability to put America back on the road to recovery.

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