President Joe Biden released his annual budget Thursday, outlining his policy priorities for the year ahead. President Biden's 2024 budget proposal, totaling $6.9 trillion, would include spending on his long-standing pledges like expanding health care coverage, fighting climate change and improving education.
Biden's budget is built on a core belief that investing in the middle class is the best way to strengthen the economy. It is one of President Biden's most common refrains on the stump: “Don't tell me what you value,” Biden says, quoting his father. "My budget reflects what we can do, to lift the burden on hard-working Americans," said President Biden as he highlighted his fiscal year 2024 budget plan.
The President's budget proposal seeks to tackle a wide range of topics, from health care to climate change to public safety. Investments address urgent needs to extend Medicare solvency, lower drug costs, bolster public health preparedness, improve the well-being of veterans, and increase access to quality care.
The budget also includes an ambitious plan to fight climate change. The Biden administration proposed $1.3 trillion in investments over 10 years to tackle the climate crisis, including an investment of $580 billion to upgrade infrastructure and promoting clean energy initiatives. It also calls for $400 billion in investments to advance clean energy research and development, and $213 billion for clean energy and transportation infrastructure.
The President's budget proposal also seeks to reduce gun violence by investing $5 billion in a new public health initiative to reduce gun violence and $1.5 billion for grants to states and localities to reduce gun violence. The budget also includes $1 billion for grants to reduce gun violence in schools and communities, as well as $950 million to improve access to mental health services.
President Biden's budget also focuses on strengthening national security. The proposal includes $715 billion in defense spending, an increase of 1.7% over the current fiscal year. It also includes $2.2 billion for the Department of Homeland Security to strengthen border security, improve immigration enforcement, and protect the nation's infrastructure.
The President's budget also includes $15.5 billion to bolster America's international standing. This includes $1.7 billion to support global health programs, $2.2 billion to fight climate change and $2.5 billion to combat terrorism and promote stability in the Middle East.
Finally, the President's budget proposal includes $1.7 trillion to enact the American Families Plan, which would expand access to health care and child care, expand the child tax credit, and provide free community college.
Overall, President Biden's 2024 budget reflects his values, and seeks to tackle a wide range of issues from health care to climate change to national security.
