Biden unveils $5.8 trillion budget proposal for new fiscal year, calls for increased defense spending
2022-03-29 13:05:34Source: China News Network
China News Service, March 29 (Xinhua) According to a comprehensive report, US President Biden submitted a budget plan of about $5.8 trillion to Congress for the 2023 fiscal year on the 28th, including further aid to Ukraine, tax increases for billionaires and companies, and lower government. deficit, etc. Biden also called for increased defense spending to strengthen the U.S. military.
According to reports, Biden told reporters at the White House: “The budget plan released today sends a clear message to the American people that we value, first, fiscal responsibility; second, safety and security; third, building a better required investment in the United States.”
Biden also said he called for increased defense spending to strengthen the U.S. military and a strong response to Russia’s military operations in Ukraine, where the U.S. will provide additional support for Ukraine’s economic, humanitarian and security needs.
The Wall Street Journal noted that the Biden administration is seeking about $813 billion in defense-related spending for fiscal 2023, an increase of about 4 percent from $782 billion in the current fiscal year. The proposal also calls for $682 million in funding to Ukraine to counter Russia and safeguard Ukraine’s security and economic interests.