The Budget’s investments are more than fully paid for through tax code reforms requiring corporations and the wealthiest Americans to pay their fair share, closing loopholes, and improving tax administration.Īlongside the Budget, today, the U.S. The proposed Budget provides smart, fiscally responsible investments-cutting deficits and keeping the economic burden of debt low. Unemployment plummeted at the fastest rate in recorded history, and the deficit is on track to drop by over $1.3 trillion this year-the largest-ever one-year decline. The President’s strategy to grow our economy from the bottom up and the middle out has helped jumpstart the strongest economic growth in nearly 40 years. Under President Biden, America is on the move again. WASHINGTON-Today, President Joe Biden released the FY2023 Budget to propose critical investments that will prioritize security at home and abroad, bolster the economy, promote health, tackle climate change, and further opportunity for all. This Budget also furthers a fairer, more efficient tax code that will allow funding for key fiscal priorities that promote opportunity for every American.” “This Budget continues the economic momentum and deficit reduction the President set in motion through smart, fiscally sound investments in the security, health, and prosperity of the nation.
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