President Barack Obama released the administration’s $3.9 trillion fiscal year 2015 budget that provides additional funding for preschool, job training and climate change research. The budget also provides funding for manufacturing institutes, health and environmental research, and supports funding to train 100,000 teachers in 500 districts. Money is also allocated for infrastructure repair for roads, bridges, railways and transit systems. The President said, “Our budget is about choices. It’s about our values. As a country, we’ve got to make a decision if we’re gonna make smart investments necessary to create jobs and grow our economy and expand opportunity for every American.”
The likelihood of the budget making its way through Congress is very remote, especially with this being an election year and with both parties fighting to maintain control of the House and Senate. Speaker John Boehner (R-OH) said, “American families looking for jobs and opportunity will find only more government, in this plan. Spending too much, borrowing too much and taxing too much, it would hurt our economy and cost jobs.” Even if Congress fails to pass a budget, the appropriation’s process is expected to move forward this year. This is because Congress agreed to spending levels for both FY ’14 and FY ’15 in last December’s two-year budget agreement.
You might also like: