President Biden releases budget for fiscal year 2025
UPDATE: President Biden has unveiled his sweeping $7.3 trillion proposed budget plan for 2025.
The president's budget blueprint calls for lowering costs for the American people, protecting and strengthening social security and Medicare, reducing the deficit, and increasing taxes on the wealthy and corporations, among other things.
His proposal for 2025 also includes a $4.7 billion emergency fund for border security to help ramp up operations in the event of a migrant surge, Which includes adding hundreds of border agents.
The request is likely to fall on deaf ears among congressional Republicans, who have already refused to fund $13.6 billion in emergency supplemental funding aimed at border security.
Congress will begin to look at funding for fiscal year 2025 in the fall.
(NBC, KYMA/KECY) - President Biden will release his budget Monday for fiscal year 2025. The budget is expected to detail the president's vision laid out in his State of the Union address.
Biden has plans to lower costs for families, protect and strengthen social security and medicare, and reduce the deficit by about $3 trillion over the next ten years.
He hopes to do this by making big corporations and the wealthy pay their fair share.
The 2025 funding proposal will also include many other requests from his 2024 budget.
The president will be traveling Monday to Manchester, New Hampshire, where he will call on Congress to apply his $2,000 cap on drug costs and $35 insulin to everyone and not just people who have medicare.
