Joe Biden’s new budget plan, released Thursday, is light on initiatives to address the drug crisis sweeping the county but heavy on gender politics, according to a new analysis.
Biden mentioned “equity” 63 times in the document, Fox News found — more than double the references to the word “border.”
The word “fentanyl” was only mentioned twice.
The word “transgender” appeared eight times and “queer” seven times – but the word “opioids” was mentioned four times.
“Equity,” a key goal, was mentioned in the context of racial equity, equal access to health care, and equity for veterans.
President Joe Biden speaks about his 2024 budget proposal at the Finishing Trades Institute on Thursday
The White House released a social media video on Thursday promoting the budget plan
The document has been published online. It is thought to be unlikely to pass
It has largely replaced the word “equality” in progressive circles. Equality means giving everyone the same chance, while fairness means ensuring everyone achieves the same result.
Proponents say fairness helps break down unfair barriers that prevent some from reaching their full potential. Critics say this often involves unfair bias against certain groups seen as successful, and equal results are often achieved artificially, by lowering general standards.
“On his first day in office, the President signed a far-reaching executive order directing the entire federal government to push forward an ambitious agenda of racial equity and justice, not as a one-year project, but as part of a sustained commitment to making the promise of America real for every American,” the document read.
“Since then, the administration has made significant strides toward equity in the federal government, including issuing a second executive order that strengthens its ability to create opportunity for communities and populations that have historically been wronged. served, and continues to build an America in which all can participate, thrive and reach their full potential.
Biden’s 2024 plan is seen as unlikely to pass.
Analysts describe the proposal as a template for the issues he will run on in 2024, should he decide to seek re-election.
Biden also threw down the gauntlet to his Republican rivals, demanding that they also reveal their spending plans.
“I have now established my budget,” he said.
“Republicans in Congress should do the same.”
Biden said his plan was designed to help ordinary workers
Biden’s plan would cut deficits by $2.9 trillion over the next decade — a proposal Republicans already intend to reject.
The president spoke at a labor training center in Philadelphia on Thursday, discussing his plan for government finances and how his values contrasted with Republican priorities.
“I just presented the bulk of my budget,” Biden said.
“Republicans in Congress should do the same. Then we can sit down and see where we disagree.
Still, the president doubted Republican members of Congress could match their numbers to their calls for a balanced budget, and he suggested any effort to do so could come at the expense of middle-class families.
“How are they going to make the math work?” Biden said. ‘What are they going to cut?’
House Speaker Kevin McCarthy said the president’s proposed deficit reduction was insufficient.
“It just seems like it’s going to create the greatest government in history.
“I don’t think that’s what we need right now,” he said.
In addition to deficit reduction, Biden’s 10-year budget largely revolves around the idea of taxing the wealthy to help fund programs for the middle class, seniors and families.
This would raise $4.7 trillion through higher taxes, with an additional $800 billion in savings from program changes.
The tax increases include a rollback of 2017 tax cuts given by President Donald Trump to people earning more than $400,000 a year.
Biden launched a new 25% minimum tax on households worth $100 million or more.
Additionally, the tax companies pay on stock buybacks would be quadrupled and those earning more than $400,000 would pay an additional Medicare tax that would help maintain the solvency of the program beyond 2050.
Medicare could negotiate prices for more prescription drugs, which would help the government save money.
This would entail $2.6 trillion in new spending, including reinstating the expanded child tax credit that would give families up to $3,600 per child, up from $2,000 currently.
This credit would be “fully refundable”, which means that households could receive all of this sum even if they do not owe any tax.
The budget proposal would impose a $35-a-month cap on insulin prices, matching a change Biden has already implemented for Medicare beneficiaries.
At a time of heightened tensions with Russia and China, the budget shows a decline in military spending as a percentage of the US economy over the next decade.
But federal spending would equal about a quarter of economic output as spending on Social Security and Medicare increases, essentially keeping the government the same size it is now.
The budget would seek to close the “carried interest” loophole that allows wealthy hedge fund managers and others to pay their taxes at a lower rate, and would prevent billionaires from being able to set aside large amounts of their assets. into tax-advantaged retirement accounts.
The plan also calls for saving $24 billion over 10 years by removing a tax subsidy for cryptocurrency transactions.
