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DC Insight - 3/10/23

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Capitol Hill News

Breaking Down Biden’s Budget: Here’s What’s in It
The Hill – March 9, 2023
President Biden on Thursday unveiled a sweeping budget plan for the coming fiscal year. The request details a set of ambitious proposals from the White House, ranging from plans to extend the lifetime of programs like Medicare, tax proposals targeting the wealthy to help reduce the deficit by trillions of dollars over the next decade, and funding for a slew of Democratic priorities. Link to the full FY24 proposed budget by the President, is here.

Defense News

Biden’s Defense Budget Concentrates on Rising Threats from China, Russia
The Hill – March 9, 2023
President Biden proposed a more than 3 percent increase to the defense budget on Thursday, pushing up the Pentagon’s spending amid heightened tensions with China and Russia. The Biden administration’s fiscal 2024 request for the Defense Department, released Thursday, comes in at $842 billion, which is $69 billion more than the $773 billion sought in fiscal 2023. Congress eventually approved $816 billion for the Pentagon in the last fiscal year, with all defense-related spending totaling $857 billion. Link to the full FY24 proposed budget by the President, is here.

Healthcare News

White House Budget Leans into Drug Pricing, Obamacare Expansion
The Hill – March 9, 2023
President Biden’s budget proposal focuses heavily on expanding access to health care and lowering the cost of prescription drugs. In an effort to extend the life of Medicare’s hospital trust fund, the budget proposal would increase the number of drugs that can be negotiated and allow those negotiations to begin sooner. Link to the full FY24 proposed budget by the President, is here.

Higher Education News

Foxx, Back in Charge, Pledges Oversight, Stronger Accountability
Inside Higher ED – March 9, 2023
Representative Virginia Foxx is planning to leverage the decline in public perception of higher education to usher in a new era of stronger accountability for the nation’s colleges and universities in her role as chairwoman of the House education committee.

Higher Ed Leaders Reintroduce LOAN Act to Lower Cost of College
House Committee on Education and the Workforce – March 9, 2023
On Thursday, House Education and the Workforce Committee Ranking Member Robert Scott (VA-03), Higher Education and Workforce Development (HEWD) Subcommittee Ranking Member Frederica Wilson (FL-24), and the other Democratic Members of the HEWD Subcommittee unveiled plans to reintroduce the Lowering Obstacles to Achievement Now (LOAN) Act. The LOAN Act seeks to lower the cost of college for current and future student borrowers and their families.


Reviewed 2023-03-13