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Biden Announces Challenge To GOP With "Fiscally Responsible" Budget

US

The White House has released a set of factsheets ahead of President Biden's presidential budget announcement later today - the first play in a government spending showdown which will unfold over the coming months.

  • Biden positions his budget on "fiscal responsibility," saying, "while the previous Administration passed a nearly $2 trillion unpaid-for tax cut... dramatically increasing the deficit, President Biden cut the deficit by more than $1.7 trillion during his first two years in office."
  • Biden claims his budget would cut the deficit by an additional USD$3 trillion through tax increases on corporations and wealthy households.
  • Biden: "[Republicans] have consistently said that reducing the deficit is a top priority, Congressional Republicans have already proposed policies that would add an additional $3 trillion to the debt over the next decade..."
  • Biden said the GOP, "owes the American people a detailed accounting of exactly what they plan to cut," and until such a plan is produced "we’re left to rely on a wide array of Republican budgets, statements, and proposals which provide clear and consistent evidence that many critical programs the American people count on will be on the chopping block."
  • WH factsheet on reducing the deficit: LINK

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