The President is sending a five-point-eight-trillion-dollar budget request to Congress.
President Biden announced his budget for the 2023 fiscal year. It calls for higher taxes on the wealthiest Americans while lowering federal deficits by passing bills to ease costs for families on childcare, healthcare, and energy.
Meantime, the Chairman of the House Ways and Means Committee, Congressman Richard Neal says he is pleased with the budget document.
“This budget frames the Biden Administration’s vision for how we can continue the momentum of the past year and bolster the nation’s strong recovery from the COVID-19 crisis. We must invest in ongoing efforts to fight the pandemic and protect people’s health – our economic strength depends on our ability to keep the virus at bay. This budget prioritizes addressing the nation’s mental health crisis as well, an issue that touches nearly every household in some way. It also proposes improvements to Americans’ long-term financial security by guaranteeing paid family and medical leave, supporting families with children, and lowering the costs of health care and prescription drugs.
“As Russia continues its gruesome invasion of Ukraine, the President’s budget reiterates our unwavering support for the Ukrainian people and builds on Congress’s efforts to hold Putin accountable and isolate Russia. We must do all we can to save lives, protect democracy, and prevent this conflict from expanding. This budget rightly supports the President’s efforts to deepen our alliances and partnerships with countries that share our values to confront the joint challenges we face, including Russia’s aggressions against Ukraine, China’s unfair trade practices, and the global climate crisis
Biden said he was committed to cleaning up former President Trump's "fiscal mess" he inherited. He also emphasized spending on national and international security as the U.S. responds to Russian President Vladimir Putin's aggression against Ukraine with economic consequences.
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