What you need to know about Biden’s first budget proposal

President Biden on Friday will propose a budget for fiscal year 2022 to Congress to claim that it is time for the United States to spend a lot of money. Biden’s budget includes trillions of dollars for infrastructure and family planning, which is expected to exceed President Trump’s $ 4.8 trillion proposal last year.

Mr Biden’s budget is just a suggestion. Parliament has the final say. Biden didn’t explicitly confirm the reported top-line $ 6 trillion figure in a Thursday discussion with reporters in Ohio, but he didn’t deny it either.

The budget is being drafted as the White House continues to negotiate potential infrastructure bills between Republicans and Democrats. American Employment PlanRepublicans have proposed spending less than $ 1 trillion on infrastructure, far less than Mr Biden wanted, but more than Republicans originally proposed.

As of Thursday afternoon, the president had not yet had the opportunity to review the content. Countermeasure by Senator Shelley Moore Capito I’m from West Virginia, but said I’ll meet somewhere next week. But when it comes to paying for infrastructure, Republicans and Democrats are far apart. Republicans are tolerant of user charges, but Democrats want to raise taxes on the wealthy and businesses.

White House officials said Thursday that the budget would do exactly what the president said to the country-growing the economy, creating jobs, advancing his job plans and his family planning. Paying a fair share to do it responsibly by demanding the wealthiest Americans and large corporations. Officials said the budget also outlines the next steps in his economic plan. Congress wants to move to healthcare. Reduces the cost of prescription drugs and affordable care. Strengthen legislation and expand Medicare coverage and benefits.

The president’s budget is a blueprint for Congress to function. It also clearly sets out the president’s priorities. Biden has already outlined much of the spending required for American employment and family planning. Budgets also illustrate what that level of spending means for deficits and debt. Parliament must pass 12 spending budgets or bills by the end of September and pass them before the government runs out of funds.

What you need to know about Biden’s first budget proposal

Source link What you need to know about Biden’s first budget proposal

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