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ICYMI: President Biden's FY23 Budget Advances Fiscal Responsibility, Safety, and Security

March 28, 2022

Today, President Biden released his FY23 Budget, which reflects three important values: fiscal responsibility, safety and security at home and abroad, and a commitment to building a better America.

The Budget shows how the strongest economic growth in nearly 40 years, powered by the American Rescue Plan, has put the deficit on track to drop by more than $1.3 trillion this year—the largest-ever one-year decline.

Through a new Billionaire Minimum Income Tax and other measures, budget policies will build on this progress and reduce deficits by a total of over $1 trillion over the next decade. The Budget helps keep our communities safe by putting more cops on the beat for community policing, fighting gun crime, and investing in crime prevention and community violence interventions. It makes one of the largest investments in our national security in U.S. history, strengthening our military and leveraging our renewed strength at home to meet pressing global challenges. And it makes other critical investments to help build a better America—cutting costs for families and advancing the bipartisan Unity Agenda the President laid out in his State of the Union address.

Here’s what they are saying:

AP News: Biden's budget plan: Higher taxes on rich, lower deficits
[3/28/22, Josh Boack]

AXIOS: Biden to ask Congress to fund the police with $32 billion in new spending
[3/28/22, Hans Nichols]

NPR: Biden's new budget calls for funding police and taxing billionaires
[3/28/22,Tamara Keith]

CBS News, White House unveils 2023 federal budget, calls for new spending aimed at reducing crime, unclogging supply chains and a tax on billionaires
[3/28/22, Sarah Ewall-Wice]

Fox News: Biden's $5.8T budget proposes one of the 'largest' investments in US national security amid war in Ukraine
[3/28/22,Brooke Singman]

POLITICO: Biden’s budget goes bigger on defense, taxing the ultra-rich
[3/28/22, Jennifer Scholtes]

NYTimes: Biden Federal Budget Proposal: Live Updates
[3/28/22, Zolan Kanno-Youngs]

WAll Street Journal Biden’s Budget Calls for Increase in Defense Spending, Including Funds for Ukraine
[3/28/22, Amara Omeokwe]

Bloomberg: Biden Budget Woos Moderates With Deficit Cuts, Flexibility
[3/28/22, Justin Sink]

WaPo: President Biden to unveil new tax on billionaires in budget
[3/28/22, Jeff Stein]

NYTimes; Biden Administration Plans New Limits on Stock Buybacks - The New York Times (
[3/28/22, Andrew Ross Sorkin]

CNN: Biden's environment and energy agencies would see funding boost under proposed budget for fiscal year 2023
[3/28/22, Ella Nelson]

USAToday: Biden budget: Billionaires' tax, more spending police, defense
[3/28/22, Michael Collins]

Joseph R. Biden, ICYMI: President Biden's FY23 Budget Advances Fiscal Responsibility, Safety, and Security Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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