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March 31, 2023
Capitol Hill is gearing up for a fierce battle over the national budget after President Biden unveiled his spending plan on Thursday, as Republicans dig in on their position on cutting domestic spending.
The White House and Congressional Republicans strongly disagree on the national deficit, with
Biden’s new $6.9 trillion proposal calls for increasing spending by approximately $2 trillion over the next ten years, while Republicans have clearly stated they want the national deficit reduced before any increases in spending. Their ideas on how to pay for expenses already passed by Congress also differ, with the Biden administration leaning on taxes from corporations and the wealthy and Republicans seeking to slash tax hikes previously implemented by the White House.
However, the White House got ahead of the GOP on Wednesday, with Press Secretary Karine Jean-Pierre announcing, Biden’s spending plan would “cut the deficit by nearly $3 trillion over the next 10 years. That’s nearly a $6 trillion difference between the President’s budget and congressional Republicans’ agenda, which would add $3 trillion to the debt.” White House budget director Shalanda Young took a jab at Republicans’ plans to slash tax hikes when speaking to reporters on Thursday, saying “All our proposals are paid for, and we’re doing this in a fiscally responsible manner.”
With Republicans controlling the House of Representatives, Biden’s spending plan has little chance of passing the House as is, and political leaders are headed for an intense round of negotiations. President Biden called on House Speaker Kevin McCarthy (R) on Thursday to meet with him to discuss the national budget and spending plan, saying during a televised address, “I’m ready to meet with the speaker anytime.”
ARTICLE: LAURA SPIVAK
MANAGING EDITOR: LUKE MOCHERMAN
PHOTO CREDIT: CBS NEWS