In the News

SPRINGFIELD, Mass. (WWLP) – President Biden has put his plan for the 2025 fiscal year budget forward.

5 takeaways from Biden’s State of the Union address

Biden’s proposed budget for FY2025 includes tax breaks for families, reduced health care costs and smaller deficits, while increasing taxes on the rich. Under the proposal, the government would spend $7.3 trillion next fiscal year and borrow $1.8 trillion to cover the shortfall from tax receipts.

Congressman Richard Neal was in western Massachusetts Monday and shared his thoughts on the proposed budget with 22News, “The president used the State of the Union to point out where he intends to take the federal government over the next four years. Again, it’s probably an ambitious budget but remember it’s a framework for where we want to go. It’s a statement of priorities.”

Some of the budget’s proposals include an expanded child care tax credit, funding for climate change and reforms to Medicare and Social Security. Biden’s budget proposal has already received push back from House Republicans who called it “misguided” and lacking “fiscal sanity.”