Home Stock Biden's $ 1.5 trillion budget outline calls for new health agency and...

Biden’s $ 1.5 trillion budget outline calls for new health agency and 16% increase in non-defense spending, arbitrary


The Biden White House on Friday ended its 2022 fiscal 2022 discretionary spending proposal, with a $ 1.5 trillion budget outline calling for a new health agency as well as a 16% increase in spending. defense darts.

The protocol, commonly referred to as a “small budget,” requires $ 6.5 billion to launch the “Advanced Research Projects Agency in Health,” or ARPA-H. Biden administration officials told reporters that the new outfit will initially focus on cancer and diseases like diabetes and Alzheimer’s, and will eventually aim to help drive transformative innovations. in health research.

Administration officials say the US has over-invested in core public services, interests and protections over the past 10 years and that their requirement for non-defense discretionary spending is 769. USD billion – a 16% increase from the enacted level of fiscal year 2021 – will return this spending of up to 3.3% of GDP, close to the historic average over the past 30 years.

The budget outline calls for $ 715 billion to the Department of Defense, up 1.6% from current levels and accounting for the majority of the $ 753 billion requested for defense programs. While progressive groups are criticizing the Pentagon’s extra money, government officials say much of the increase is to pay salaries for men and women in uniforms and casualties. people support them.

Other highlights include $ 36.5 billion in Title I grants to provide funding to poor high schools, $ 10.7 billion to fight the opioid pandemic, $ 8.7 billion. dollars to the Centers for Disease Control and Prevention and $ 2.1 billion to address gun violence.

The discretionary spending requirement is “a proposed package to build on efforts to fight the COVID-19 pandemic and improve public health infrastructure; creating an economy that works for all; formulating a historical, all-government approach to combat climate change, enhancing national equity and the economy; and restore America’s standing worldwide, ”said Shalanda Young, acting director of the Office of Management and Budget, in a letter to lawmakers.

Before the implementation of the budget outline, critics argued that it could ask more questions than it would be answered after. The stimulus package is 1.9 trillion USD and Biden’s $ 2.3 trillion infrastructure proposal.

“The central issue is that they will assert that they can hamper economic growth thanks to the combination of the American Rescue Plan, the American Job Plan and any sequels it might have. And how does that fit in with some of the sort of deficit-related fiscal strategy we have? And a year of arbitrary numbers doesn’t clear either of those things, ”said Douglas Holtz-Eakin, president of the Conservative Advisory Organization of the American Action Forum and former head of the Congressional Budget Office. with MarketWatch.

See: The red line poses a risk to Biden’s budget implementation

Discretionary funding accounts for only about a third of annual government spending, as Medicare, Social Security, and other benefit programs take up more and more resources. New administrations have become customary to disclose their proposed discretionary spending for the next budget year around this time, and their outlines can then be legislated on Capitol Hill. used to start writing annual appropriation bills.

The administration plans to release a full budget proposal later this spring.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments