President Biden's budget proposal for 2023 promotes fiscal responsibility, safety and security at home and abroad, and a commitment to building a better America.
 

And the President plans to pay for that – and reduce the deficit – by asking billionaires and the top 0.01% of Americans to pay their fair share. This comes after the previous Administration and Congressional Republicans added $8 trillion to the deficit, in part to pay for tax giveaways to the wealthy.
 

Here are some of the highlights:

  • The Budget shows how the strongest economic growth in nearly 40 years, powered by the American Rescue Plan, has put the deficit on track to drop by more than $1.3 trillion this year—the largest-ever one-year decline.

  • Through a new Billionaire Minimum Income Tax and other measures, budget policies will build on this progress and reduce deficits by a total of over $1 trillion over the next decade.

  • The Budget helps keep our communities safe by putting more cops on the beat for community policing, fighting gun crime, and investing in crime prevention and community violence interventions.

  • It makes one of the largest investments in our national security in U.S. history, strengthening our military and leveraging our renewed strength at home to meet pressing global challenges.

  • And it makes other critical investments to help build a better America—cutting costs for families and advancing the bipartisan Unity Agenda the President laid out in his State of the Union address.
     

Locally:

  • According to US News, Texas is falling behind other states in both K-12 and Higher Education, ranking 35 and 31, respectively. Biden's plan gives Texans an opportunity to make much-needed investments and return Texas to its proper place as a national leader in the education of our children.

  • The budget proposes massive investments in supply chains, especially ports and shipping. Not only will this lower the cost of everyday items for all Texans, but it will be a massive investment in the Port of Houston, providing more jobs and opportunities for the area

  • The failure of our power grid in 2021 was devastating for the people of Texas. This budget will help make sure that never happens again by investing $80 million for the new national Grid Deployment Office.
     

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