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Biden’s Bold Economic Message Winning Hearts
President Biden and House Republican Leader Kevin McCarthy agreed to budget proposal is the aim to cut spending for the fiscal year 2024 by $1.47 trillion, or around $120 billion lin May. The White House and Senate leaders, particularly prominent Republican Mitch McConnell, have rejected this proposal.
According to a statement from the White House, the President will explain today how these devastating cuts fit into the overall Republican budget plan and what it implies for American citizens.
It is going to be used to pay for “a significant portion” of the Republican budget plan, which the White House claims will decrease taxes for the rich and get rid of social security and healthcare programs.
The American public may or may not be responding favorably to Biden’s economic message. Democratic economists, pollsters, and government representatives have asserted that President is attempting to inform the majority of the people about his economic leadership despite though he preside over what all signs point to as a solid economy.
In June, Biden tried to change the public’s perception of his economic plan by restating his vision for the prosperity of the middle class in the United States. Taxing the wealthy in order to invest in crucial fields like semiconductor production for national security, training employees, and boosting economic competitiveness were all part of this.
25% of Americans like Biden’s big efforts, such as the infrastructure investment package, according to a survey conducted by the Democratic group Navigator Research in August, but they still believe he is doing a poor job managing the economy.