Press Release - Excerpt from Remarks as Prepared for Delivery by President Biden on His Plan to Reduce the Deficit While Investing in America, Bringing Down Costs for Families, and Protecting and Strengthening Social Security and Medicare

Let's be crystal clear about what's happening.

If you add up all the proposals that my Republican friends in Congress have offered so far, they would add another $3 trillion to the debt over 10 years.

When I introduce my budget in a few weeks, you'll see that people making less than $400,000 a year will not see a single penny increase in taxes, nor have they for the past 2 years.

You'll see that my budget will invest in America, lower costs and protect and strengthen Social Security and Medicare, while cutting the deficit by $2 Trillion over 10 years.