[Congressional Record Volume 170, Number 46 (Thursday, March 14, 2024)]
[Senate]
[Page S2386]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                        President Biden's Budget

  Ms. STABENOW. Mr. President, first, I just want to say for the record 
that it has been 36 days since Republican colleagues voted down the 
strongest border security bill in decades. So that is a reality.
  But what I wanted to speak about was the President's budget. When he 
was growing up, President Biden's dad used to say this: Don't tell me 
what you value. Show me your budget, and I will tell you what you 
value.
  Well, President Biden's budget just came out, and I will tell you 
what he values. President Biden values investing in the middle class so 
that families are able to work hard and get ahead and build a better 
life for their children. He values ensuring that teachers and 
firefighters aren't paying more taxes than billionaires. And he values 
Social Security and Medicare, programs that have lifted up millions of 
older Americans out of poverty--a whole generation--a great American 
success story.
  Meanwhile, we have the Republican nominee, the former President, in a 
CNBC interview vowing to cut Medicare and Social Security.
  Show me your budget, and I will tell you what you value.
  The Biden budget invests in growing our middle class, continuing the 
policies that have made our economy the strongest in the world.
  Since President Biden and Vice President Harris took office, the 
economy has added about 15 million new jobs, the most ever in the first 
term of a President.
  The unemployment rate has stayed below 4 percent for 2 years in a 
row. We haven't seen that in more than 50 years.
  Wages are up. The stock market is up. New small businesses are up.
  Meanwhile, the Republican agenda slashes investments in our families 
while cutting taxes for the wealthy.
  Republicans like to talk about cutting the deficit. Meanwhile, 
President Biden is doing it. His budget would reduce the deficit by $3 
trillion by making the wealthy pay their fair share and cracking down 
on tax cheats.
  The Biden budget lowers costs for families in a number of ways. It 
invests in affordable childcare so that working families aren't 
scrambling to find quality care at a price they can afford. It 
increases affordable housing and helps American families buy their 
first home and achieve their dream. Meanwhile, it makes higher 
education more affordable and cuts the burden of student debt, and it 
continues to lower prescription drug costs, helping people afford the 
medications they need.
  And, best of all, it restores the expanded child tax credit, which 
was enacted as part of the American Rescue Plan. The expanded child tax 
credit helped cut child poverty in half in 2021. And President Biden's 
budget brings it back, giving families some breathing room.
  We also know that families are concerned about our national security. 
The Biden budget invests in a secure border through technology that 
detects fentanyl, more Border Patrol officers, more immigration judges, 
and more asylum officers so decisions can be made quickly on who should 
be allowed to remain in the country.
  And, finally, the Biden budget protects and strengthens Social 
Security and Medicare. These aren't just government programs. They are 
a promise that, after a lifetime of hard work, you will be able to 
retire in dignity.
  Meanwhile, Republicans continue, through their Presidential nominee, 
to focus on cutting programs that break that promise.
  Show me your budget, and I will tell you what you value. A thriving 
middle class, safe communities, security for our seniors, and ensuring 
that the wealthy pay their fair share--that is what the President 
values.
  We have come a long way. It is time to build on our progress.
  I yield the floor.