after the pandemic was subsiding, his total deficit wasnearly $5 trillion— twice Trump’s first three years. In other words, Biden barely scaled back government spending even after the pandemic was largely behind us.
$1.1 trillion inpassed spending $89 billionannounced $125 billionspent At least one-third of that $1.6 trillion will be tax breaks for things like clean energy manufacturing, electric vehicles and home energy updates. The rest is for the federal government to spend on things like highways, gree...
After all, he wanted a $5 trillion a expansion of the welfare state in his first budget. And many of the bills in his first two years (such as the fake stimulus and the misnamed Inflation Reduction Act) increased the burden of spending. However, I was very surprised that Biden recently...
“The budget proposes $5 trillion of spending and tax breaks and only pays for three-quarters of the cost, leaving nearly $1.4 trillion of higher debt,” Committee for a Responsible Federal Budget President Maya MacGuineas said in a statement. “Debt under the budget would hit new records al...
“Do you really think the wealthy, big corporations need another $2 trillion tax break?” President Joe Biden said. Biden is referring to the bulk of the Trump-era tax cuts that are set to expire in 2025. Republicans and Democrats are gearing up for a huge showdown next year that will...
spending, $45 billion to combat climate change and funds to ease supply chain issues.The White House also claims the budget would reduce the deficit by more than $1 trillion over the next decade.It contains some elements of the president's signature Build Back Better agenda, like climate ...
The Senate approved the $1.2 trillion package, which wasunveiledearly Thursday, in a vote of 74 to 24. Hours earlier, it advanced out of the House in a 286 to 134 vote. The Senate slipped past the deadline after an hourslong standoff on amendment votes. Shortly before midnight, Senate ...
Biden has a climate plan -- a big one. Trump simply doesn't. Biden aims to push as much as $1.7 trillion over 10 years into a plan to boost renewable powerand speed introduction of electric vehicles, through tax credits, boosted research and development into technologies including large-s...
President Joe Biden will deliver his first address to the members of Congress on Wednesday evening. Ahead of the speech, the White House released details of his new "American Families Plan," a $1.8 trillion package of spending and tax cuts aimed at worki
Democrats at Odds Over Biden's $1.75 Trillion Social Spending Bill More Reuters U.S. President Joe Biden smiles after signing an executive order intended to reduce bureaucracy around government services for the public, in the Oval Office at the White House in Washington, U.S....