Biden ‘Value Statement’ Budget Seeks Big Tax Hikes, Spending Increases, And Mounting Debt

Biden ‘Value Statement’ Budget Seeks Big Tax Hikes, Spending Increases, And Mounting Debt


President Joe Biden on Thursday is expected to use his budget proposal to score political points with his base rather than seriously engage in negotiations with Republicans about government finances as the U.S. nears the legal limit on borrowing.

House Republicans have called for significant cuts to federal spending in exchange for lifting or suspending the debt ceiling. Senator Joe Manchin, the Democratic Senator from West Virginia, has criticized his party for refusing to cooperate with Republicans on “reasonable and responsible” budget cuts.

Biden’s package of tax hikes and spending increases is unlikely to pass either the Republican-controlled House or the Democrat-controlled Senate—something the White House is well aware of. Instead, it is meant to signal Democrat priorities.

“We see this as a value statement,” White House press secretary Karine Jean-Pierre said Wednesday.

Biden’s budget will include a 5.2 percent raise for federal workers, according to…

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Biden 'Value Statement' Budget Seeks Big Tax Hikes, Spending Increases, And Mounting Debt

 

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