The Republican wing of the US Congress has made it clear that it intends to reject the proposal for the 2024 Budget Plan presented by President Joseph Biden on March 9, so it will face a not easy process for its acceptance.
The president's budget plan includes repealing tax cuts for the "richest" and raising the corporate tax rate, reversing cuts former President Donald Trump made in 2017 to those who earn more than 400 thousand dollars a year, with the objective of financing programs and the solvency of services such as Medicare, which provides health insurance financed by the government for people over 65 years of age and Medicaid that helps low-income people.
The proposal also includes an investment to guarantee free preschool education and alleviate the cost of childcare.
"My budget is a milestone to rebuild the United States in a fiscally responsible manner without leaving anyone behind," Biden explained when presenting the budget plan, however the final decision rests with Congress.
Chad Stone, economist and head of the Center for Budget and Policy Priorities, explained at a press conference organized by Ethnic Media Services in which experts met to talk about President Joe Biden's proposal on the budget plan for 2024, it is very difficult to know what will happen with the decision of Congress since the Republicans have already declared that they reject the proposal.
"The president is going to have to be flexible in his positions to get things moving forward," Stone said.
At the time, Elizabeth Lower-Basch, deputy executive director of policy at the Center for Law and Social Policy, pointed out that the proposal seeks to make significant investments in families, children, workers and low-income people, in addition to returning the Child Tax Credit , which was part of the Economic Rescue Plan that began due to the COVID-19 pandemic and which provided families with around $3,600 per child when filing their taxes.
"This is the largest investment we've ever seen in a proposal," he declared, noting that there will be many fights to win congressional approval.
Finally, Andrew Eschtruth, associate director of external relations at the Boston College Retirement Research Center, pointed out that although the president did not detail the budget in relation to social security, he did assure that there will be no type of reduction in benefits and who will work with Congress to strengthen it.
Undoubtedly, the president's proposal will have to go through different struggles, since the president of the United States House of Representatives, Kevin McCarthy, who is a Republican? has rejected the plan.
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