Fox News White House correspondent Peter Doocy asked President Joe Biden Thursday if his budget proposal has “any chance of passing.”
The president introduced his $6.8 trillion proposal for fiscal year 2024 in Philadelphia, Pennsylvania, on Thursday, which notably includes increases in funding for the FBI, Department of Justice (DOJ), and Bureau of Alcohol, Tobacco, Firearms and Explosives.
“Mr. President, does this have any chance of passing?” Doocy asked Biden following the 50-minute speech.
“Yeah, I think a lot of it does,” the president answered. “I think as the contrast occurs, I think you’ll see a lot of it working out.”
The president proposed a 7% increase on non-defense spending and tax hikes for the wealthy. The plan calls for a top marginal income tax rate of 39.6% for single filers making a minimum of $400,000 and for married couples earning an income above $450,000 per year, and a 25% tax on billionaires — all of which are unlikely to pass the Republican-controlled House, CNBC reported. (RELATED: Proposed Biden Defense Budget Includes Largest Military Pay Raise In Decades)
Congressional Republicans quickly dismissed Biden’s proposal, accusing it of further raising the deficit and federal spending. The president’s opposing party has been particularly critical of the plan’s proposal to decrease funding for the Department of Homeland Security (DHS) by 1%, according to Politico.
The White House argues that the plan will strengthen border security by funding $25 billion for U.S. Customs and Border Protection (CBP) and Immigration and Customs Enforcement (ICE) an increase of almost $800 million over the 2023 budget, according to a White House Fact Sheet. They also claim their plan will improve immigration courts and improve the crisis at the U.S.-Mexico border.