Headline Roundup • May 28th, 2021
Biden Unveils $6 Trillion Budget Proposal, Excludes Hyde Amendment
Summary from the AllSides News Team
On Friday, President Joe Biden revealed his $6 trillion budget proposal for the 2022 fiscal year, which includes a tax hike on businesses and an increase in safety net spending, and excludes the Hyde Amendment. The new proposal includes Biden’s $2.3 trillion American Jobs Plan and $1.8 trillion American Families Plan, and is a large increase from the previously-proposed $1.5 trillion 2022 budget. The plan also calls for raising annual federal spending to $8.2 trillion by 2031 and would keep annual deficits above $1.3 trillion for the next decade, with the federal government spending more as a percentage of the economy than any year since World War II, except 2020 and 2021. The White House projects the economy to expand by 4.3 percent in 2022, and that the unemployment rate will fall from 6.1 percent as of last month to 4.1 percent next year. The budget also excludes the 1976 Hyde Amendment, which bars federal funding for abortion and has been included in spending legislation for decades; Biden had supported the amendment before reversing his position during his presidential campaign.
Outlets across the political spectrum provided analysis regarding the budget and its likelihood of passing; the Hyde Amendment's exclusion also received coverage from across the spectrum.
Featured Coverage of this Story
New York Post (News)
President Biden on Friday released his massive $6 trillion budget for fiscal 2022 pushing a surge in spending on social programs and broadly defined infrastructure through tax hikes on businesses and higher-earners.
The budget — which would set the US on course for higher spending as a percent of the economy than ever before and continue to balloon the national debt — calls for a 16-percent increase in non-defense spending. But it’s also an aspirational document that requires Congress to enact it.
Critics of Biden’s first budget say it would undermine the...
Washington Post
The budget officially released by the White House on Friday hinges on an optimistic projection that the economy will grow at a rapid pace for the next two years, with inflation under control and unemployment falling to near pre-pandemic levels.
In its first budget, the Biden administration said the economy will grow at just north of 5 percent this year as the nation rebounds from the coronavirus pandemic. The White House anticipates robust growth continuing through the following year as well, with the economy expanding by 4.3 percent in 2022. The economy...
The Hill
President Biden on Friday proposed a budget that would entrench deficits in excess of $1 trillion for the next decade, pushing the nation’s debt burden to record highs.
The blueprint released by the White House ties together three major spending proposals already announced by Biden: the $2.3 trillion American Jobs Plan, the $1.8 trillion American Families Plan and $1.5 trillion in discretionary spending for fiscal 2022.
Combined with mandatory spending programs, the 2022 budget would spend $6 trillion, about $300 billion more than current projections for the year, with much of the spending going toward education,...
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