Obama sends record $4 trillion spending plan to Congress

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

WASHINGTON — President Barack Obama is sending Congress a $4 trillion budget that would boost taxes on higher-income Americans and corporation. It would use the money to get rid of tight budget spending caps, fund an ambitious public works program and provide middle-class tax relief.

Obama’s budget, which will set off months of wrangling in Congress, proposes spending $4 trillion — $3.999 trillion before rounding — in the budget year that begins Oct. 1. That’s a 6.4 percent increase over projected spending this year. It projects the deficit will decline to $474 billion in 2016.

In a message accompanying the massive budget books, Obama says his proposals are “practical, not partisan.” But even before the books were delivered, Republicans found plenty to criticize in tax hikes totaling $2 trillion.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.