White House Releases President Biden’s FY2024 Budget
On Thursday, March 9, the White House released President Biden’s anticipated FY2024 budget proposal to Congress. According to the White House, the President’s $6.9 trillion budget pays for itself and reduces the deficit by nearly $3 trillion over the next decade through several tax reforms, including raising taxes on the wealthiest Americans and eliminating tax breaks and closing tax loopholes for the top income earners and large corporations.
The President’s budget lowers taxes for families with children by restoring the full Child Tax Credit and strengthens Medicaid, Medicare, and Social Security entitlement programs. The proposed budget makes historic investments in healthcare, education, and the environment. In addition, the budget provides funding to protect our democracy, bolster US global competition, reduce gender-based violence, and promote peace and security abroad.
While the budget makes several good investments supported by the NCC, it also includes funding for additional law enforcement officers. The NCC is concerned about this increase because numerous studies have shown that more police funding does not translate into safer communities. Instead, we urge the Biden administration to invest in community-based violence intervention and prevention programs, re-entry services, mental health services, and other programs proven to help reduce crime. We reiterate our call for reforms that are critical to making communities safer, building trust with law enforcement, and reducing the likelihood of police harming the innocent and defenseless.
The NCC considers the budget to be an ethical document, which reflects the moral fabric and hopeful potential of our great nation. We will continue to follow President Biden’s budget proposal as it works its way through the Congressional appropriations process and advocate for NCC’s priorities on Capitol Hill. Read the White House Budget Fact Sheet