Issue Report ● Fiscal Responsibility
For Immediate Release: 
March 30, 2022
Contact Info: 
Margaret Mulkerrin 202-225-3130
On Monday, March 28, the Office of Management and Budget released the President’s Budget for Fiscal Year 2023, which advances key priorities for the American people such as reducing gun violence and violent crime, acting on the opioid epidemic, and lowering costs for working families through fiscally responsible, fully-offset investments while reducing the deficit. Globally, the Biden Budget bolsters America’s global leadership and reiterates our commitment to our allies.

Here’s a look at what news outlets are saying about President Biden’s blueprint to build a better and stronger America:

The Washington Post
“The White House is also including a “Bipartisan Unity Agenda” focused on mental health, fighting cancer and addressing the opioid epidemic. That agenda includes a provision to ensure that all private health plans cover mental health and substance use disorders. It would also heavily invest in mental health providers, youth mental health and suicide prevention programs, and scholarships to address a shortage of mental health providers.” [3/28/22]

The New York Times
“Mr. Biden [proposes] a 7 percent increase in domestic spending that includes priorities like anti-gun violence initiatives, affordable housing and manufacturing investments to address supply chain issues…The White House also for the first time proposed a discrete stream of funding for Veterans Affairs medical care.”

The budget also seeks to address rapid inflation…The White House pointed to several proposals — including funds for port infrastructure development and money to help with financing the construction and rehabilitation of inexpensive housing stock — as measures that might help bring prices down by improving supply over time.” [3/28/22]
The Wall Street Journal
“The budget, released Monday, also seeks higher taxes on businesses and the wealthiest Americans, part of an emphasis on reducing the federal deficit…the administration forecasts a yearly drop of roughly 50% in the U.S. deficit during fiscal 2022, to $1.4 trillion, as spending on Covid-19 relief programs wanes and a stronger economy generates more tax revenue…the budget plans would narrow the deficit by more than $1 trillion relative to where it would stand over a decade under current law.” [3/28/22]
The Associated Press
“Biden and his allies touted his budget as focusing on fiscal responsibility, security at home and overseas and investments in social programs to help families afford housing, child care, health care and other costs.”

“Biden assert[s] that his plan would reduce deficits by over $1 trillion over the coming decade.” [3/29/22]
NBC News
“President Joe Biden's fiscal 2023 budget proposal increases additional military spending as Russia's invasion of Ukraine rages on, and seeks tighter gun regulation and a new tax provision targeting billionaires.

"The budget proposal includes $6.9 billion for the European Deterrence Initiative, NATO and countering Russian aggression to support Ukraine, among other partners.” [3/28/22]
“President Biden plans to spend $1.58 trillion of the $5.8 trillion in his proposed 2023 budget to bolster America’s defenses and maintain robust economic growth, while also addressing inflation by lowering the federal deficit and costs for working families.” [3/28/22]
USA Today
“Biden [‘s Fiscal Year 2023 Budget] proposed a 20% minimum income tax on multimillionaires and billionaires that the president billed as a fairer tax code that would prevent the nation's highest earners from paying a smaller share than middle-class Americans.” [3/28/22]
“On the home front, Biden's plan boosts spending on policing, efforts to fight gun crime, and invests heavily in crime prevention, while adding some $50 billion to address the critical shortage of affordable housing… it would raise the corporate tax rate to 28% while making changes to the corporate tax code to reward job creation and investment.” [3/28/22]
“The administration is also requesting significant funding and authority tied to mental health services, including a provision that all private health plans cover mental health and substance use disorder and a requirement that mental health costs be comparable to physical health fees….The youth mental health crisis, in particular, has concerned Biden officials and lawmakers who are calling for counseling and education services as well as a crackdown on harmful social media use.” [3/28/22]
“Biden used the budget to flesh out his so-called Unity Agenda, a series of proposals he debuted in the State of the Union and has argued should cross political divides. That includes a $33.2 billion proposal for law enforcement, crime prevention and community violence intervention programs. Biden also wants $5 billion for an advanced health-research agency he’s championed, which would explore experimental treatments for cancer, diabetes and dementia.” [3/28/22]

Click here to read the PDF.

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