Lubbock Times

House Budget Committee Chairman Jodey Arrington (R-TX) responded to the recent report by the American Action Forum (AAF) which revealed the significant financial impact of President Biden's regulatory actions since taking office. Chairman Arrington expressed concerns over the escalating regulatory costs imposed by the Biden administration, stating, “President Biden is on track to impose more regulatory cost on our economy than any President in history, adding $1.4 trillion since coming to office."

The AAF report highlighted that President Biden's regulatory burden has surpassed that of previous administrations, with the most costly regulation being the Environmental Protection Agency's (EPA) tailpipe vehicle emissions rule costing $870 billion alone. Chairman Arrington emphasized the detrimental effects of these regulations on the economy, stating that they, along with tax hikes and excessive spending, are contributing to a cost of living crisis for working Americans.

In response to the escalating national debt under President Biden's administration, Chairman Arrington advocated for reducing wasteful spending and cutting taxes and regulations to stimulate economic growth and address unsustainable deficits. He emphasized the need to prioritize fiscal responsibility in light of the current debt crisis, pointing out that the national debt has increased by $6.83 trillion since President Biden took office.

The House Budget Committee has been vocal in its criticism of President Biden's policies, from regulatory actions to budget requests filled with excessive spending. Chairman Arrington reiterated the Committee's concerns, stating that President Biden's approach to fiscal matters is out of touch with the nation's financial reality. The current gross national debt stands at $34.59 trillion, reflecting a significant increase during the Biden administration.

As the debate over regulatory costs and fiscal responsibility continues, Chairman Arrington's response underscores the urgency of addressing the economic challenges posed by President Biden's regulatory agenda and its impact on the nation's financial health.