Biden’s budget bites the dust before it gets off the ground

OAN Deven Berryhill
UPDATED 5:35 PM PT – Friday, March 10, 2023

With Republicans now dominating the U.S. House of Representatives, critics have claimed that there’s little-to-no chance for Joe Biden’s new budget to become law.

Joe Biden, the president of the Democratic National Committee, spoke before them on Friday in what was called a campaign speech with a budget rollout.  Many members of the committee expected that the president would give a speech outlining his financial budget.

 “Let me ask you a simple question. Are you with me?” Biden spoke on stage in Philadelphia, while hundreds of party leaders replied. “Four more years… four more years.”

President Obama’s budget proposal included funding requests to increase the budget for Defense to $842 billion by 2024, and for Nondefense Programs funding to $688 billion.

Friday’s appearance by the Director of the Office of Management and Budget was also a defense of Biden’s defense vs. budget proposal spending percentage.

“We’re talking about two different bases we can absolutely talk about … whether there should be parity with defense is $886 billion,” Shalanda Young is the Office of Management and Budget Director. “We think that’s the right level to be at for defense programs because we are basing and building that program from requirements. What is our national defense strategy? And we’re investing responsibly while reducing the deficit.”

Biden suggested raising the corporate tax rate to 21% from 21%. He also suggested a “billionaire” Americans with wealth exceeding $100 million are subject to a minimum 25% tax. Some Democrats commended the president for sticking to his 2020 campaign promise of not increasing taxes on households with incomes below $400,000.

Most Republicans believe that the majority of the president’s budget points will be rejected by the Republican-led House. Many Washington legislators have stated that they are ready for another partisan battle on Capitol Hill over taxes. 

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