Next week, The House Republican Study Committee (RSC) will unveil its new budget plan that aims at cutting around $16.3 trillion in federal spending and producing tax breaks of up to $5.1 trillion within a ten-year framework.
In early June 2023, the RSC released a brief outline of their proposed budget in response to the country’s national debt standing at $30 trillion.
According to The Daily Signal, RSC Chair Kevin Hern, R-Okla., said, “For countless families and businesses across the nation, the American dream has become out of reach.”
The new plan is proposed to help alleviate the financial burdens of average Americans by reducing taxes through implementing a tax reduction of $5.1 trillion, Fox News reported.
This will include a large number of deregulations that will lessen the power that the IRS holds and shift that power to the Federal government.
According to the letter released by the RSC, this action will prevent the IRS from being able to “harass and spy on hard-working Americans.”
In response to Biden’s “reckless proposal,” the RSC has aims to implement budget cuts in the following areas:
- The Office of Diversity, Equity, and Inclusion at the Pentagon
- State Department Migration and Refugee Assistance
- Section 8 program
- Halving the F.B.I.’s counterintelligence
- Providing stricter parameters for Pell Grants
- A 45 percent cut in the budget for foreign aid
The new budget plan is also designed to end taxpayer funding of critical race theory in schools. This information was listed under the heading “Protects Americans from the Radical Woke Agenda.”
A fully-funded border wall is also included in the new GOP budget in response to the migrant crisis in El Paso, Texas.
More in-depth information on the budget will be available Wednesday afternoon.