U.S. Rep. Joe Barton, an Ennis Republican, said in a statement, “I am in total disbelief that the president and his advisers would even entertain this proposal”.
Advertisement
Today, President Barack Obama unveiled a $4 trillion budget for the USA government in 2017, including more than $19 billion for cybersecurity to protect the nation’s online interests and improve information technology. “This document will not prevent American jobs from moving overseas, Medicare from going bankrupt, and healthcare spending from continuing to rise”, House Ways and Means Committee Chairman Kevin Brady released in a statement.
Now he puts forth a budget for the 2017 fiscal year, which begins October 1, that calls for $4.15 trillion in spending, a $223 billion increase over the current year’s budget. The budget includes a $4.1 trillion spending plan for the coming year, and also proposes to eliminate $2.9 trillion in spending over the next 10 years. It drives down the deficit. The budget also seeks $150 billion to boost research and development in areas from biomedical research to space exploration, and $19 billion for cyber-security. The White House notes there’s bipartisan support for accelerating cancer research, offering more treatment to people addicted to heroin and prescription pain medication, and expanding a tax credit to help low-income workers who don’t have children.
Obama wants to fund a “21st Century Clean Transportation Initiative” with $320 billion, which is above and beyond the funding already agreed to by lawmakers for the Highway Trust Fund. The big idea behind the clean initiative: cut USA reliance on oil, curb carbon pollution and help fight climate change.
Boustany introduced the resolution on the same day that President Obama submitted the final budget request of his presidency to Congress, which includes the proposed oil tax.
Obama’s budget has been met with immediate rejection from Republicans and Democrats on Capitol Hill. Unfortunately, the game was played a year ago and the president was AWOL.
As MSNBC pointed out on February 9, it’s been commonplace since the 1970s for the Office of Management and Budget Director to deliver the budget in full to Congress. The House and Senate typically sets up a hearing in Congress, as both sides make their case for or against the proposal.
“Maybe they are taking the Donald Trump approach to debates about the budget”.
Rising costs from social security retirement payments and health care for an ageing society will mount over that period, adding to the fiscal shortfall. Not only have congressional Republicans been disrespectful of his proposals, they’ve also continued to be delusional about the budget and the economy.
Republicans are especially resistant to the White House’s tax proposals.
But that tax, billed to oil companies, like numerous president’s initiatives, was rejected even before the budget was made public by Republican leaders.
It includes the so-called Buffett rule, which would require the rich to pay at least 30% of their income on taxes.
Advertisement
The proposal also aims to raise $319 billion over the next 10 years by placing a $10 tax on oil every barrel of oil that is domestically produced and imported, excluding exports of petroleum products.
