China News Agency, Washington, March 28 (Reporter Chen Mengtong) The White House announced the 2023 fiscal year budget plan on the 28th, proposing three goals: reducing deficits, strengthening domestic and foreign security, and promoting investment in the United States.
The U.S. fiscal year 2023 begins on October 1, 2022.
The White House and Congress will have to agree on appropriations before then so the federal government continues to get the money to keep it going.
In a speech at the White House that day, U.S. President Biden said, "The budget released today sends a clear signal that the United States values fiscal responsibility, safety and security at home and abroad, and what is needed to continue equitable growth and build a better America. Invest".
Biden believes that the U.S. epidemic relief strategy in 2021 has achieved results.
Progress in the U.S. economy has enabled the federal government to responsibly reduce emergency spending measures and increase revenue.
"Last year, we cut the deficit by more than $350 billion, and we are on track to cut the deficit by more than $1.3 trillion this year."
Against the backdrop of the ongoing conflict between Russia and Ukraine, the U.S. defense budget for fiscal year 2023 continued to grow substantially.
The defense budget in this budget amounts to $813.3 billion, of which $773 billion will be spent by the U.S. Department of Defense.
According to statistics from the White House and the Pentagon, the US Department of Defense's $773 billion budget has increased by $30.7 billion, or 4.1%, from the 2022 fiscal year;
In the US Department of Defense budget, "support for the United States' European allies and partners" is listed as the first item.
The White House said the budget will be used to support Ukraine, support U.S. relations with NATO allies and other European partners, and increase funding to improve the response capabilities and readiness of the U.S. military, NATO allies and regional partners.
The budget also plans to provide $60.4 billion for the U.S. State Department and the U.S. Agency for International Development, an increase of 3 percent from a year earlier.
That includes $1.6 billion to support Ukraine and help other countries in Europe and Central Asia under security threats.
The Biden administration has also increased investment in strengthening domestic social order and preventing gun violence.
This includes $3.2 billion in state and local grants; $30 billion to support law enforcement and crime prevention efforts; and $1.7 billion to strengthen the fight against illegal gun trafficking and regulation.
In addition, the budget also proposes taxing American billionaires, expanding research and infrastructure to respond to epidemics, and increasing investment and innovation in clean energy.