Today the Office of Management and Budget (OMB) will release the FY 2023 Budget Request. The budget will outline the administration’s policy priorities for the year ahead. It has been messaged that the budget will include a new minimum tax on billionaires, an increase in defense funding, and additional federal funding for police. Policies that can be implemented without Congressional action should be given particular attention as the White House believes these can be enacted through regulation or executive action. It is difficult to see this Congress, in an election year, able to implement other policy proposals outlined in the Biden Administration’s Budget. It is always important to keep in mind that the President’s budget is aspirational and not a requirement for Congressional authorizers and appropriators. Secretary Becerra will testify before the House Appropriations Subcommittee on Labor, Health and Human Services (HHS), and Education this Thursday, March 31st. During that hearing, we will learn more about the HHS policy proposals. It is expected that he will continue to appear before other Committees over the next few weeks to discuss the budget request.
Next Step for COVID-19 Relief. The Majority Leader Hoyer has the goal to move COVID-19 relief funding forward next week. However, he is expecting action to start in the Senate, where they will need to garner 60 votes. We will be watching for signals on how much funding both parties can agree to and how quickly a funding package can come together.
Our fingers are sore from clicking “refresh” this morning as we wait for the release of the President’s Budget. Debbie Curtis breaks down “Budget Day” and how this moment signals the administration’s policy priorities for the year ahead.