The government proposed allocating $773 billion among its priorities
for Department of Defense spending, up 9.8 percent from 2021.
WASHINGTON, March 28th (RHC) – The United States fiscal 2023 budget project calls for more appropriations for military spending and tax increases for billionaires, as proposed by President Joe Biden.
The plan, addressed to Congress, is valued at $5.8 billion and will fund state spending from October 1, 2022 to September 30, 2023.
This budget sends a clear message that we value fiscal responsibility, security at home and around the world, and the investments necessary to continue our growth, Biden said in a statement released by the White House.
Specifically, the government proposed allocating $773 billion for Defense Department spending among its priorities, up 9.8 percent from 2021.
It also includes nearly $1 billion to maintain military aid to Ukraine while Russia’s military operation takes place, and also $6.9 billion for the North Atlantic Treaty Organization’s (NATO) so-called European Defense Initiative.
The US executive also introduced the possibility of imposing a tax on those with incomes over $100 million, something the most progressive wing of the Democratic Party has been trying to authorize for some time in a bid to reduce inequality.
In the text, the White House calls for increased funding to combat climate change, $81,700 million for the Department of Health to prepare for future pandemics and $9,900 million for the Centers for Disease Control and Prevention (CDC).
As for the budget deficit, the US government estimates that it will be reduced by 1.3 percent, which would be 4.5 percent of gross domestic product (GDP).
The Hill newspaper predicts that it will be very difficult for Democrats to get the support they need from Republicans to greenlight this project, especially in the Senate, which is split 50-50. (Source:PL)