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Obama Proposing $4 Trillion 2017 Budget

Obama Proposing $4 Trillion 2017 Budget

"The Department of Justice is committed to ensuring the safety of our communities and the strength of our nation and the resources laid out in President Obama's budget are vital to our efforts", Attorney General Loretta E. Lynch said in a statement.

Of course, the way the proposal works, oil companies are responsible for paying this tax but economists argue that companies could simply pass the buck, so to speak, onto the consumer. While it was expected that Republicans would not embrace the plan, it shocked many when they refused to even hold a formal hearing in the House and Senate.

"It's tempting to adopt the conventional wisdom that a president's final budget isn't relevant, but I think the conventional wisdom is wrong", said Shaun Donovan, director of the White House budget office.

Budget proposals of USA presidents are nearly always described as dead on arrival in Congress. The budget proposals of outgoing presidents might best be described as dead before departure.

President Barack Obama has proposed spending $320 billion over the next decade on a "clean transportation" plan, which includes $32 billion per year to green the transportation sector by funding public transit, an urban planning initiative and clean vehicle research, the White House announced.

The plan also proposes $19 billion to improve the government's cyberdefenses, $19 billion to fund NASA, $11 billion to fight the Islamic State group, $3.4 billion to improve European defenses in order to discourage Russian aggression, $3.1 billion for technology modernization at various agencies and $1 billion for cancer research.

"Obama's budget is a progressive manual for growing the federal government at the expense of hardworking Americans", as House Speaker Paul Ryan put it.

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Government deficits had been falling during Obama's seven years in office, after hitting $1.4 trillion during his first year as president amid the country's steepest recession since the Great Depression of the 1930's.

North Texas Republican lawmakers dismissed the budget outright.

White House spokesman Josh Earnest, who has likened the snub to Republican presidential front-runner Donald Trump's decision to skip a debate with fellow candidates before the Iowa nominating contest, challenged Republicans to move on areas of compromise.

The president would like to add another $434 million for Head Start programs so more kids can attend the program on a full-time basis throughout the year.

The Obama budget will result in massive new taxes on already overtaxed American families.

In his annual budget proposal, unveiled Tuesday, Obama included $19 billion for bolstering cybersecurity in the federal government, including $3.1 billion to replace outdated IT systems that are hard to secure. The plan includes raising the top tax rate on capital gains, requiring millionaires to pay at least 30 percent of their income in taxes and raising the tax on oil. An additional $59 billion was requested by the administration for Overseas Contingency Operations fund, remaining consistent with the 2016 fiscal year levels.

The president's proposals call for billions to step up the fight against terrorism, increase investments in clean energy, education, and criminal justice reform.


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