Obama Budget: New Spending With Recycled Tax Ideas [VIDEO]
The White House is focusing on re-election themes such as jobs and public works projects in President Barack Obama’s new budget blueprint that’s coming out Monday.
The spending plan for the budget year that begins Oct. 1 also relies on familiar but never enacted tax increases on the wealthy and corporations to reduce future deficits after four years of trillion dollar-plus shortfalls.
Obama’s budget is the official start to an election-year budget battle with Republicans. It’s unlikely to result in a genuine effort to address the $15 trillion national debt or the entrenched deficits that keep piling on to it. But it will serve as the Democrats’ party-defining template on this year’s election stakes.
Obama budget seeks to boost trade enforcement
Obama’s new budget proposal will ask Congress to devote millions for a new trade enforcement center and more U.S. inspectors in China as the administration takes aim at unfair trade practices.
That’s according to a senior administration official speaking anonymously ahead of Monday’s release of Obama’s 2013 budget request.
The official says the budget will call for plowing $26 million into a new Interagency Trade Enforcement Center, $13 million for Customs and Border Protection trade inspections and $10 million for the Food and Drug Administration, which will add 16 new officials in China.
It’s all part of Obama’s focus on manufacturing as he tries to win over voters and boost the economy in this election year.
(Copyright 2012 by The Associated Press. All Rights Reserved.)