President Biden will propose a $6 trillion budget for the 2022 fiscal year on Friday.
The proposed budget would take the United States to its highest sustained levels of federal spending since World War II. It would also run annual deficits of more than $1.3 trillion throughout the next decade.
The news came on the heels of Republicans releasing a counter proposal to President Biden’s $1.7 trillion infrastructure plan.
At $928 billion, the counter proposal is nearly double the amount of the republicans’ initial offer.
Jimmie Johnson: WE HAVE SOME BREAKING NEWS FROM CAPITOL HILL.
WE’RE TALKING MONEY — AND LOTS OF IT.
TOMORROW — THE WHITE HOUSE WILL PROPOSE A 6 TRILLION DOLLAR BUDGET FOR NEXT YEAR.
THE PROPOSED BUDGET WOULD TAKE THE UNITED STATES TO ITS HIGHEST SUSTAINED LEVELS OF FEDERAL SPENDING SINCE WORLD WAR II.
PRESIDENT BIDEN PLANS TO PAY FOR THE BUDGET WITH INCREASED TAXES ON CORPORATIONS AND THE WEALTHY.
THEIR BUDGET PRIORITIES INCLUDE INVESTING IN CHILDCARE AND INFRASTRUCTURE.
NEWS OF THE BUDGET PROPOSAL COMES FOLLOWING THE GOP’S COUNTER-OFFER ON PRESIDENT BIDEN’S INFRASTRUCTURE PROPOSAL.
REPUBLICANS ARE OFFERING 928-BILLION — THAT’S NEARLY DOUBLE THEIR INITIAL OFFER.
SEN. SHELLEY MOORE CAPITO // (R) West Virginia: “We believe that the alternative, which is a partisan reconciliation process, would be destructive to our future bipartisan attempts, but also doesn’t serve the American public and wouldn’t get us to an infrastructure package such as such as the one we believe would serve the American interests.”
Jimmie Johnson: THE CONCESSIONS HAVE GONE BOTH WAYS, WITH PRESIDENT BIDEN
REDUCING HIS ASK FROM 2 TRILLION TO 1 POINT 7 TRILLION.
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