Biden's first budget marks sharp change from Trump years
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Friday
January 27, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
FRIDAY, JANUARY 27, 2023
Biden's first budget marks sharp change from Trump years

World+Biz

Reuters
09 April, 2021, 09:30 pm
Last modified: 09 April, 2021, 09:33 pm

Related News

  • Call for doubling budget allocation for ethnic people  
  • Biden's climate agenda has a problem: Not enough workers
  • China defends its Covid response after WHO, Biden concerns
  • Capitol riot panel's final report sets out case to try Trump
  • US House committee to release redacted Trump tax filings

Biden's first budget marks sharp change from Trump years

Nearly three months into a job consumed by the fight against the Covid-19 pandemic, the document offered a long-awaited glimpse into Biden’s agenda and kick-starts a grueling negotiation with Congress over what will ultimately be funded

Reuters
09 April, 2021, 09:30 pm
Last modified: 09 April, 2021, 09:33 pm
US President Joe Biden. Photo: Collected
US President Joe Biden. Photo: Collected

US President Joe Biden asked Congress to sharply increase spending to combat climate change and gun violence in a budget that marks a sharp departure from his predecessor, Donald Trump.

The $1.5 trillion budget, reflecting an 8% increase in base funding from the current year, would invest billions more in public transportation and environmental clean-ups, slash funding for a border wall and expand funding for background checks on gun sales, each goal clashing with the prior administration.

Nearly three months into a job consumed by the fight against the Covid-19 pandemic, the document offered a long-awaited glimpse into Biden's agenda and kick-starts a grueling negotiation with Congress over what will ultimately be funded.

Biden would increase spending by $14 billion across agencies to deal with the effects of greenhouse gas emissions, a shift from the Trump administration's dismissal of climate science.

The president would spend millions on dealing with rising numbers of unaccompanied children showing up at the country's southern border from Central America, including $861 million to invest in that region.

But his budget would provide no funding for the construction of a border wall, a signature Trump priority, and would increase funding for investigation of immigration agents accused of "white supremacy."

Among the biggest proposed increases in funding are for schools in poorer neighbourhoods and on researching deadly diseases other than the Covid-19 pandemic that has dominated his term in office so far.

Biden would spend $6.5 billion to launch a group leading targeted research into diseases from cancer to diabetes and Alzheimer's, a program that reflects Biden's long desire to use government spending to create breakthroughs in medical research.

Biden requested some $715 billion for the Department of Defense, roughly even in inflation-adjusted terms with this year, and a compromise between liberals trying to impose cuts and hawks who want military spending to increase.

The money earmarked for the Pentagon aims to deter China, support modernizing the nuclear missile inventory and building "climate resiliency" at military facilities.

Known as a "skinny" budget, Biden's proposal on Friday provided only cursory figures on "discretionary" programs and departments where Congress has flexibility to decide what it wants to spend for the fiscal year starting in October.

The White House had been delayed in producing the document, blaming resistance from political officials during the handover from Trump and denying that competing interests over issues like military funding played a role.

The proposal does not include Biden's $2 trillion infrastructure proposal or changes in taxation, one administration official said. Those changes would be included in a full budget proposal to be submitted in late spring.

Discretionary spending accounted for $1.6 trillion in the 2020 fiscal year, about a quarter of total federal spending. The rest is for areas deemed mandatory including old-age, disability, unemployment and medical benefits.

Each of the proposals is just the first step in a budgeting process that will ultimately be decided in the US House of Representatives and Senate, where Democrats hold bare majorities.

Biden withdrew his initial pick, Neera Tanden, to lead the Office of Management and Budget after she faced difficulty winning Senate approval. The office is currently run by acting director Shalanda Young.

Top News

Biden / First / Budget / Budget / Sharp / change / Trump

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Bloomberg
    India's Adani slammed by $48 bln stock rout, clouding record share sale
  • Global central banks preaching on pay are enforcing squeeze too
    Global central banks preaching on pay are enforcing squeeze too
  • Infograph: TBS
    State banks spend 80% of their forex for govt imports in H1

MOST VIEWED

  • Who is behind Hindenburg, the company that is shorting Adani?
    Who is behind Hindenburg, the company that is shorting Adani?
  • A Pakistani ranger is seen standing near Indian (L) and Pakistani flags during a fair in Chamliyal in Jammu and Kashmir in this June 22, 2006 file photo. REUTERS/Amit Gupta/Files
    ‘Intransigence’: India notifies Pakistan of plans to amend Indus Waters Treaty
  • Photo: Collected
    Development partners commit $30 billion to food production in Africa
  • Picture: Collected
    Norway finds 'substantial' mineral resources on its seabed
  • Global central banks preaching on pay are enforcing squeeze too
    Global central banks preaching on pay are enforcing squeeze too
  • Myanmar soldiers take part in a military parade to mark the 74th Armed Forces Day in the capital Naypyitaw, on March 27, 2019. Photo:Reuters
    Two years after Myanmar coup, UN says situation 'catastrophic'

Related News

  • Call for doubling budget allocation for ethnic people  
  • Biden's climate agenda has a problem: Not enough workers
  • China defends its Covid response after WHO, Biden concerns
  • Capitol riot panel's final report sets out case to try Trump
  • US House committee to release redacted Trump tax filings

Features

Sketch:TBS

Why we need consumer education for consumer wellbeing

7h | Thoughts
Dr Ahsan H Mansur, Executive Director, Policy Research Institute. Illustration: TBS

Twin shocks call for stronger domestic policy response

8h | Thoughts
December-er shohor, taxi taken for airport and the Park Street bathed in lights. Photo: Jannatul Naym Pieal

Exploring Kolkata on foot, empowered by Google Maps

9h | Explorer
Island hopping in Bangladesh?

Island hopping in Bangladesh?

11h | Panorama

More Videos from TBS

Kajol’s road paintings bring change in Gafargaon

Kajol’s road paintings bring change in Gafargaon

23h | TBS Stories
Carew & Company witnessed a remarkable growth

Carew & Company witnessed a remarkable growth

1d | TBS Stories
After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

28m | TBS Entertainment
PCB recalls cricketers from BPL ahead of PSL

PCB recalls cricketers from BPL ahead of PSL

1d | TBS SPORTS

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Four top bankers arrested in DSA case filed by S Alam group 
Bangladesh

Four top bankers arrested in DSA case filed by S Alam group 

3
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net