Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

Politics

House GOP leaders tear up Biden’s new $7.3T budget proposal

by March 12, 2024
March 12, 2024
House GOP leaders tear up Biden’s new $7.3T budget proposal

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.

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 progressive policies, like dedicating $8 billion over 10 years to the American Climate Corps and $3 billion for the Green Climate Fund, which helps developing countries fight climate change.

The budget proposal also includes $1.8 billion toward boosting development programs in the STEM fields that have an emphasis on diversity, equity, inclusion and accessibility.

The budget is largely symbolic and has virtually no chance of passing the Republican-controlled House. 

However, it is a significant part of the president’s pitch to voters as he seeks to win another term in November.

House Republicans advanced their own budget last week, led by Budget Committee Chairman Jodey Arrington, R-Texas, aimed at cutting $14 trillion in federal spending over 10 years by slashing federal benefits and social programs, among other areas. It also aims to reduce taxes and roll back Biden’s green energy subsidies.

Congressional leaders are beginning to discuss the roadmap to funding fiscal year 2025, even as negotiations continue on how to fund the remainder of fiscal year 2024, which began on Oct. 1, 2023.

Disagreements over federal spending have fueled historic levels of division on Capitol Hill. Congress passed half of their 12 spending bills in a massive $460 billion package last week, and the remainder must be funded by March 22 to avoid a partial government shutdown.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
The Body Shop shuts down U.S. operations, with plans to close dozens of U.K., Canada stores
next post
Biden Cabinet secretary announces retirement ahead of ‘crazy, silly’ election season

Related Posts

Catholic groups pummel HHS secretary after heated exchange...

May 17, 2024

As Trump picks up the pace in Iowa,...

September 20, 2023

FBI Director Christopher Wray cites increased foreign threats...

April 12, 2024

Scathing poll reveals what Biden has in common...

April 30, 2024

Biden admin faces bipartisan backlash for allowing beef...

February 28, 2024

Israel-Hamas war: IDF uncovers evidence of Hamas developing...

January 8, 2024

WATCH: Protester derails Biden speech with demands for...

November 10, 2023

Fox News Poll: Voters blame Hamas for war,...

November 16, 2023

Vivek Ramaswamy ends presidential bid following Iowa caucuses

January 16, 2024

Fox News Power Rankings: Trump freezes his lead...

November 1, 2023

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Top 10 Countries for Natural Gas Production (Updated 2024)

      April 6, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 4

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025
    • 5

      Top 9 Nickel-producing Countries (Updated 2024)

      April 23, 2024
    • 6

      Australian abolitionist, Grace Forrest, receives coveted ‘Freedom from Fear’ award

      April 13, 2024
    • 7

      LME Sanctions on Russian Metal Push Copper, Nickel and Aluminum Prices Higher

      April 17, 2024

    Categories

    • Business (1,028)
    • Investing (2,046)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,347)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thriftybanker.com | All Rights Reserved