The proposal is expected to include plans to strengthen entitlement programs by raising taxes on the wealthy and include trillions of dollars in deficit-reduction measures.
— The White House is preparing to release President Biden's annual budget proposal on Thursday, when he will lay out his administration's priorities for the next fiscal year as he readies an expected reelection bid with Republicans in control of the House.
The president's budget serves as a starting point for negotiations with lawmakers who are ultimately responsible for crafting and passing spending bills that keep the government running. Presidents' budgets as proposed are never identical to what Congress passes, particularly when the opposition party controls one or both chambers, but they are useful for revealing the administration's priorities and expectations. As he and other presidents have done before, Mr.
"This is something that he's talked about since the campaign, and he believes in being fiscally responsible, and that's what you're going to see from the president tomorrow," Jean-Pierre said at the daily press briefing. increase the Medicare tax rate One reporter at Wednesday's press briefing pointed out that the details of the president's budget that have been released so far did not appear to have an"olive branch" for Republicans."If they want to talk to the president about how we're going to reduce the deficit, he's willing to have that conversation. But that's not what they're putting forth," Jean-Pierre replied.
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