Dear friend,
President Biden released his FY24 budget this week and it provides a solid blueprint to keep the economy rolling and invest in our future. The plan is a stark contrast to Republican plans for tax cuts for the wealthy and big corporations that increase the deficit. Under Biden-Harris Administration policies, America is enjoying the lowest unemployment rate in 50 years and the nation’s debt is down more than $1.7 trillion over the past 2 years—the largest reduction in American history. We are fighting off Republican plans to slash Social Security and Medicare and working to strengthen these lifelines on behalf of the Americans who worked a lifetime in order to retire with security and dignity.
With a continued eye on fiscal responsibility, the President’s budget will lower costs through drug cost savings and affordable health care coverage that are already working under the Inflation Reduction Act. Investments in quality, affordable child care and restoring the full Child Tax Credit that helped families purchase necessary items like diapers, clothes and school supplies will lift a burden off of working families.
Thanks to everyone who joined our telephone town hall on Wednesday night. Many callers expressed concerns about the rising costs of rent and homeownership. With President Biden’s budget, we aim to boost the supply of affordable housing in communities with hot housing markets like Tampa Bay and expand access to homeownership. Making the cost of living more affordable – through housing, improved pathways to college and job training, and small business loans – is the centerpiece of the president’s proposal.
This budget is one that tells our neighbors that we hear you, and we are working for you, putting People Over Politics in order to lower costs, create good-paying jobs, build safer communities and grow our economy from the bottom up and middle out.