Fortune Sky is Your Go-to Source for the Latest Finance News, Covering Markets, Business, Industries and Internet.
⎯ 《 Fortune • Sky 》

Biden Asks Congress for $56 Billion in Domestic Spending

2023-10-26 10:17
President Joe Biden is asking lawmakers to approve just under $56 billion in disaster relief and other domestic
Biden Asks Congress for $56 Billion in Domestic Spending

President Joe Biden is asking lawmakers to approve just under $56 billion in disaster relief and other domestic programs, as part of an emergency request unveiled Wednesday.

The request, which comes in addition to the $106 billion the administration wants for Israel, Ukraine, and other foreign assistance programs last week, includes $23 billion to respond to natural disasters including hurricanes and wildfires and $16 billion for childcare funding.

The administration is also asking for more than $1 billion for American farmers growing crops that will then be distributed to countries abroad, amid growing concern over the impact of the wars in Ukraine and the Middle East on global food security.

“The administration’s request is based on current estimates of need in communities affected by recent disasters, and the administration will work with Congress to continue to assess these needs to fully support recovery and rebuilding,” the White House said in a statement.

The path for Biden’s supplemental requests on Capitol Hill remains uncertain after the election earlier Wednesday of Representative Mike Johnson as House speaker, breaking a three-week impasse that had paralyzed the lower chamber.

Johnson has said that he supports a short-term measure that would continue government operations after funding runs out next month, and indicated he is open to additional Ukraine aid – unlike some hardline lawmakers in his party. In his speech shortly after taking the gavel, the Louisiana Republican said he hoped to “find common ground” with Democrats.

“There’s a lot going on in our country, domestically and abroad and we are ready to get to work again to solve those problems,” Johnson said.

Read more: Trump Ally Johnson Elected Speaker, Shifting GOP Further Right

But he has also pledged to restrain government spending and establish a bipartisan debt commission. That could complicate Biden’s efforts to secure support for additional spending requests, particularly on domestic political priorities like child care, even as the White House describes the programs as urgently needed.

Still, the White House is eager to show attention to the US economy at a time where voters are voicing concern over their pocketbooks and the president’s job performance.

Only 26% of respondents in a Bloomberg News and Morning Consult poll of swing state voters released last week said “Bidenomics” has been good for the economy, with 49% saying the policies have been bad. A 51% majority of swing-state voters said the national economy was better off under former President Donald Trump. Similar numbers said they would trust Trump over Biden on the economy going forward, 49% to 35%.

Read More: Trump Leads Biden in Key States as Voters Fret About the Economy

The request also comes as the federal government is working to respond to high-profile natural disasters, including wildfires in Hawaii and hurricanes in Florida. It includes $9 billion for FEMA’s disaster relief fund, as well is $2.8 billion for housing needs and another $2.8 billion for farmers and ranchers impacted by disasters.

The childcare request comes as millions of parents are expected to soon lose out on subsidies backed by a $24 billion program passed during the pandemic that funded child care workers’ salaries and training programs. The White House says its request would provide a year of funding for more than 225,000 child care providers throughout the country.

The White House is also asking for $6 billion for the Affordable Connectivity Program. More than 20 million households have enrolled nationwide for the program, which can provide a subsidy of up to $30 per month — or $75 per month on certain tribal lands — toward broadband internet service for the poor.

Additional requests include $3.1 billion for the FCC to subsidize the removal of telecommunications equipment and software that the government worries is insecure, and $2.2 billion to improve capabilities for uranium enrichment. The White House is also asking for $1.6 billion to subsidize energy costs for low-income families and $1.55 billion for fentanyl treatment and recovery services.

The Office of Management and Budget called uranium enrichment “a national security priority.”

“Without action, Russia will continue its hold on the global uranium market to the detriment of U.S. allies and partners,” the office said in a statement. “To be successful, this initiative would also require a long-term ban on enriched uranium product imports from the Russian Federation into the United States.”

--With assistance from Gregory Korte.

(Updates with statement about uranium, in final two paragraphs.)