On Tuesday, President Biden announced nearly $3 trillion in measures to reduce deficits as part of his proposed budget for 2022. The plan includes an increase in taxes on buybacks, rail safety, and childcare. The president’s budget has received criticism from Republicans, who feel it is a war on their party despite the shaky economy. However, the White House has committed to raising taxes, which has been a main point of contention between the two parties. The budget also trashes former President Trump’s tax cuts.
One of the more controversial aspects of the budget is the prescription drug price plan. The plan will only benefit the pharmaceutical industry and not the average American. The plan was criticized by both Fox News and the New York Post, who feel that it is not enough to help those struggling with high drug costs.
The budget will be a tough sell to Republicans, but President Biden is hopeful that he can get his budget passed. The budget includes measures to reduce the deficit and increase taxes, which could help the economy in the long run. The budget also includes incentives for clean energy, which will help the country become more environmentally friendly. Overall, the budget is ambitious and sets a tone for the new administration.