Rep. Smith Statement on President Biden's FY 2024 Budget

WASHINGTON, D.C. - Today, Representatives Adam Smith (D-Wash.) released the following statement regarding President Biden's Fiscal Year (FY) 2024 budget.

"President Biden's FY 2024 budget released today will allow us to build on the historic progress we've made over the past two years. It reflects his commitment to grow our economy from the bottom up and the middle out and lower costs for American families and seniors.

"The President's budget will strengthen Social Security and extend the life of the Medicare Trust Fund by at least 25 years, providing relief to the millions of Americans who rely on Social Security and Medicare and who have heard the threats from Republicans about cutting these programs. The budget will also build on the wins in the Inflation Reduction Act to lower health care and out-of-pocket drug costs and will make sure the ultra-wealthy pay their fair share in taxes. And, the budget will reduce our deficit by nearly $3 trillion over 10 years.

"We have yet to see a budget proposal from Republicans in Congress, but they've been clear about their plan to cut funding for government programs and slash taxes for the rich and wealthy. Republicans need to come to the negotiating table in good faith to create a budget that works for the American people. We cannot default on our debt, and we cannot pass a budget that raises the deficit and cuts programs that American families and seniors rely on.

"President Biden's third budget invests in the American people. It's the right plan to create an economy that works for everyone, and I'm committed to working with my colleagues to pass meaningful legislation that advances this vision."

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