Biden budget asks for 25% tax on billionaires, boosts in domestic and defense spending

House Republican leadership said the federal deficit is the result of “a spending problem, not a revenue problem”

By: - March 9, 2023 6:17 pm
President Joe Biden speaks about his fiscal 2024 budget request

President Joe Biden speaks about his fiscal 2024 budget request on March 9, 2023, at Finishing Trades Institute in Philadelphia. (Screenshot from White House feed)

Members of Idaho’s congressional delegation derided the budget request in statements released Thursday.

“This administration already spent well beyond its means, resulting in inflation that hurts Idahoans every day,” U.S. Sen. Jim Risch, R-Idaho, said in a statement. “Thankfully, Congress can correct the president’s error with a budget that reins in spending and targets solutions that provide relief to Idaho families.”

U.S. Rep. Mike Simpson, R-Idaho, said in a statement that Biden is “out of touch with what will truly help American families, businesses” and the U.S. economy.

“The answers will not be found in more taxes and budget gimmicks, but in a comprehensive plan that addresses the true drivers of our debt,” he said. “As Chairman of the House Appropriations Interior and Environment Subcommittee, I remain committed to crafting a responsible budget that successfully meets America’s needs and contributes to the long-term health of our economy.”

President Joe Biden
President Joe Biden’s 184-page budget request calls on Congress to boost funding for defense and domestic programs and levy a 25% minimum tax on billionaires, setting up a significant contrast with House Republicans, who hope to cut spending to last year’s levels and overwhelmingly oppose tax increases. (Screenshot from White House feed)

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Jennifer Shutt
Jennifer Shutt

Jennifer covers the nation’s capital as a senior reporter for States Newsroom. Her coverage areas include congressional policy, politics and legal challenges with a focus on health care, unemployment, housing and aid to families.