WASHINGTON (AP) — President Joe Biden’s upcoming budget proposal aims to cut deficits by nearly $3 trillion over the next decade, according to an administration official.
That deficit reduction goal is significantly higher than the $2 trillion that Biden had promised in his State of the Union address last month. It also is a sharp contrast with House Republicans, who have called for a path to a balanced budget but have yet to offer a blueprint.
The White House has consistently called into question Republicans’ commitment to what it considers a sustainable federal budget. Administration officials have noted that the various tax plans and other policies previously backed by GOP lawmakers would add more than $2.7 trillion to the national debt over 10 years.