Biden’s 2023 budget plan; A sharp increase in military budgets and taxes for the rich.
US President Joe Biden unveiled a $ 5.79 trillion budget bill to Congress on Monday, calling for unprecedented peacetime military spending, more aid to Ukraine, higher taxes for billionaires and corporations, and a reduction in the deficit. Is the budget.
House Speaker Nancy Pelosi said about the new budget plan that Congress is looking forward to working on Biden’s bold financial plan, although some Democrats have opposed the plan, particularly over increased military spending.
Reacting to some opposition from both parties to the new budget, Biden said he wanted to increase defense spending to strengthen the US military and respond to Putin’s aggression against Ukraine with $ 1 billion in economic, humanitarian and economic assistance. Security of Ukraine.
“Based on pre-war economic forecasts in Ukraine, the plan offers a new insight into Biden’s thinking in the run-up to the November 8 by-elections, which could lead to a loss of control of Congress by the Democratic Party,” Reuters reported.
Biden said his administration’s goal in presenting the budget plan was to make real progress in clearing out the financial turmoil he inherited from the Donald Trump administration; The plan, which Biden believes will reduce the federal budget deficit by more than $ 1.3 trillion this year, and plans to cut $ 1 trillion further in the next decade.
Reports over the past few years have been difficult for most Americans, although billionaires and corporations have become richer than ever.
Democrat John Yarmot, chairman of the House Budget Committee, predicted a “controversial” war between Democrats over Biden’s plan to drastically increase the US military budget.
Senior Republican Sen. Lindsey Graham, a member of the Senate Budget Committee, said raising taxes on Biden’s plan would hurt workers and the U.S. economy as a whole, while widening the budget deficit.
