Congress spent heavily in 2022, so much so that even as COVID-related spending fell, enough new spending was passed to keep the annual federal budget above $6 trillion.
House Minority Leader Kevin McCarthy of California is hoping to put the brakes on federal spending next year.
One factor that is likely to at least dampen the spending party is the Republican takeover of the House. Minority Leader Kevin McCarthy, R-Calif., who hopes to become the next House speaker when Republicans take control of the chamber in 2023, isn’t happy about all the excessive spending and believes it's time to slow down in order to reduce the inflationary effects of the trillions of federal dollars blanketing the nation.
President Biden signed trillions of dollars in new spending bills that have kept federal spending levels elevated.
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