West Virginia Democratic Sen. Joe Manchin raised concerns over the $3.5 trillion budget plan the Senate passed Wednesday, warning that the level of spending would have a negative impact on future generations.
With the IIJA’s passing, senators are now set to take up their budget resolution. The mammoth resolution, unveiled by Vermont Independent Sen. Bernie Sanders, addresses priorities including health care, climate change and immigration and as outlined costs $3.5 trillion.
This shows a nearly 25 percent increase in state spending in just two years. Nearly a billion of the dollars fueling this spree are calculated to go away in 2022. Perhaps more alarming, Klein finished his presentation with two solid pages of text outlining pending needs and requests for funding major new or vastly expanded programs.
This legislation will extend the Child Tax Credit to deliver direct monthly payments of up to $300 per child to families. It will guarantee that no family pays over 7 percent of their income for child care. It will provide paid family and medical leave for working people. It will allow everyone to attend community college tuition-free.
Trying to use more gas than you have makes no sense on a road trip. But, replace the gas with money, and you have the U.S. government right now. Think of it this way: Our tax revenue should be enough “gas” to fund the necessary expenses for the government. But, Washington is spending. A lot. More than we ever have.
New Hampshire’s Republican-controlled Legislature pushed through a two-year $13.5 billion budget on Thursday that includes sweeping tax cuts and controversial measures limiting abortions and diverting more taxpayer dollars to school choice programs.
“This is a truly transformational budget that will allow us to recover from the pandemic and address some longstanding challenges, including our workforce shortage and economic inequity that exists from county to county,” said Governor Scott.
Letting the Republican tax reductions of 2017 expire as scheduled in 2025 means that a hundred million of ordinary middle class families will be forced to shoulder an enormous spending burden.
The Legislature adjourned Friday until October or January after passing bills that address several legislative priorities the Vermont Chamber worked to support over the past five months.
Republican lawmakers pushed back Wednesday after the White House unveiled a new $1.8 trillion spending plan that includes free college tuition provisions and up to 12 weeks of paid family leave.
The U.S. national debt is closer to $123 trillion, more than four times what the Treasury Department is reporting, Chicago-based Truth in Accounting calculates in its new annual analysis of the nation’s finances.
“If we can work together — and put the politics and partisan agendas aside — we can pass a budget that revitalizes our economy and truly transforms the future by setting us on a path that supports all Vermonters in every corner of our state.”