Tuesday, March 19th 2019
President Seaborn's Budget Proposal Calls For Massive Increase in Infrastructure, Green Energy Spending, Tax Hikes For Wealthy
President Sam Seaborn submitted his administration's first budget proposal earlier today and it has drawn attention for ambitious proposals to massively increase spending on infrastructure and investment in renewable energy research, to be paid for by adding three tax brackets to the top of the current tax bracket, culminating in a new top rate of 50% on all income earned over $10 million for single filers. Director of the Office of Management and the Budget (OMB) Andrew Delaney said that the budget would "increase the deficit slightly" in the short term, but given the proposed infrastructure repairs and projects that the program would fund, Delaney says the OMB projects "long-term savings on infrastructure spending" if the current plan is approved by Congress. The president's budget calls for $750 billion in infrastructure spending, a tremendous leap from the $21 billion that was allocated in last year's budget, the last approved under his predecessor, Glen Allen Walken. It also calls for $10 billion to be put aside for a proposed expansion of Medicaid to allow people making up to 133% of the federal poverty line to use the program in states that accept a potential expansion.
Senate Majority Leader Cody Riley (R-AL) quickly signaled that the president's "pie-in-the-sky" budget would not pass the Senate. "The President, in his very first budget, has proposed the greatest tax increase in recent American history," Riley said in a statement. "While it's clear that the administration does not seriously believe that they will get this budget approved as is, the fact that the president can be pushed to the radical left by voices within his own party is alarming." Congresswoman Bonnie Thayer (R-AR), ranking member of the House Budget Committee, said that she was "quite surprised" by President Seaborn's ambitious agenda, but was confident that she and Budget Committee Chair Caroline Martin (D-MA) could craft "a less radical, but more responsible" alternative.
Several smaller items proposed will likely see much fewer, if any objections: an increase in the Department of Defense's budget to order a sixth
Gerald R. Ford-class aircraft carrier that will eventually replace the USS
Abraham Lincoln, an increase in relief for farmers whose crops or livestock are damaged by extreme nature events such as flooding or drought, funding for a blue-ribbon panel to examine several education reform proposals including the feasibility of free community college and increasing federal tax support for charter schools and an increase to the college loan deduction to $4,000 from up to $2,500.