House GOP leaders tear up Biden's new $7.3T budget proposal: 'Reckless spending'

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House Republican leaders are blasting President Biden’s proposed plan for how to fund the government in fiscal year 2025.

"The price tag of President Biden’s proposed budget is yet another glaring reminder of this Administration’s insatiable appetite for reckless spending and the Democrats’ disregard for fiscal responsibility. Biden’s budget doesn’t just miss the mark – it is a roadmap to accelerate America’s decline," read a joint statement by House Speaker Mike Johnson, R– La., Majority Leader Steve Scalise, R– La., Majority Whip Tom Emmer, R– Minn., and GOP Conference Chair Elise Stefanik, R– N.Y.

"While hardworking Americans struggle with crushing inflation and mounting national debt, the President would increase their pain to spend trillions of additional taxpayer dollars to advance his left-wing agenda."

The U.S. national debt is currently just over $34.5 trillion, according to the U.S. Debt Clock.

SOARING DEFICITS TO PUSH PUBLICLY HELD DEBT TO RECORD LEVEL IN 4 YEARS

Biden’s $7.3 trillion budget plan, which he unveiled Monday, includes proposals to hike taxes on corporations and high-income households. It lays out roughly $5 trillion in tax increases overall, which the White House said would be split evenly between corporations and the top 2% of earners.

It also aims to push forward his