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How to Replace Sentence into the Budget Proposal

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FORMER U.S. ATTORNEY BARBARA McQUADE, WERE IN UNCHARTED WATERS HERE. WELL TALK TO YOU AGAIN ON MORNING JOE. LETS SHIFT GEARS NOW TO A MAJOR HEADLINE THIS MORNING. PRESIDENT BIDEN HAS LAID OUT HIS NEARLY $7 TRILLION BUDGET PROPOSAL INCLUDING A PLAN TO INCREASE TAXES ON CORPORATIONS AND THE WEALTHY WHILE INCREASING SPENDING ON THE MILITARY AND POOR AND MIDDLE CLASS. BUT IN A DIVIDED CONGRESS ITS HIGHLY UNLIKELY TO PASS AS IS. NBC CHIEF WHITE HOUSE CORRESPONDENT KRISTEN WELKER HAS MORE. Reporter: IN BATTLEGROUND PENNSYLVANIA PRESIDENT BIDEN UNVEILING HIS SWEEPING BUDGET PROPOSAL CALLING FOR MAJOR TAX HIKES ON THE WEALTHY AND INCREASED SPENDING. MY BUDGET IS GOING TO GIVE WORKING PEOPLE A FIGHTING CHANCE. ITS GOING TO CREATE GOOD PAYING JOBS. Reporter: STILL WITH DIVIDED GOVERNMENT, THAT PLAN IS DEAD ON ARRIVAL WITH REPUBLICANS STAUNCHLY OPPOSED TO ANY NEW TAX INCREASES. BUT MR. BIDENS PROPOSAL LIKELY A BLUEPRINT FOR HIS BATTLE PLAN AGAINST REPUBLICANS IN HIS EXPECTED

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What is the budget proposal for 2024?

President Bidens Fiscal Year 2024 Budget outlines several major tax increases that would add up to nearly $4.8 trillion in new taxes targeted at businesses and high-income individuals. After $833 billion in expanded tax credits, it would raise nearly $4.0 trillion in new taxes on net.

What is the NASA budget request for 2024?

The Biden Administration proposed $27.2 billion for NASAs 2024 fiscal year. If approved by Congress, this would represent a 7.1% increase over 2023 levels.

What is the $6.8 trillion budget?

President Biden proposed a $6.8 trillion budget that sought to increase spending on the military and social programs while also reducing future budget deficits. Recapturing a Centrist Identity: Biden has made curbing the budget gap one of his centerpiece promises.

Has Congress passed 2023 budget?

Congress passed the $1.7 trillion federal budget for fiscal year (FY) 2023. The bills release edged close to the continuing resolutions (CR) Dec. 23 deadline, which is when federal funding was set to expire. If the omnibus had not passed by then, a government shutdown would have occurred.

What is the proposed FY 2024 budget?

On March 9, 2023, the Biden-Harris Administration submitted to Congress a proposed Fiscal Year (FY) 2024 Budget request of $842 billion for the Department of Defense (DoD), an increase of $26 billion over FY 2023 levels and $100 billion more than FY 2022.

Is there a shortage or surplus projected for 2023?

In this report, the Congressional Budget Office describes its projections of the federal budget and the U.S. economy under current law for this year and the decade that follows. The deficit is projected to total $1.4 trillion in 2023; annual deficits average $2.0 trillion over the 20242033 period.

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