Date Posted

President Joe Biden released his federal budget proposal for Fiscal Year (FY) 2024 on Thursday, March 9, building on legislation and executive orders over the past two years that put working people and families first.

Biden's budget proposal — his third since his inauguration on January 20, 2021 and first since the midterm elections — reduces the federal deficit by nearly $3 trillion, strengthens Social Security and Medicare, lowers the cost of prescription drugs, childcare, housing, and education, and makes new investments in domestic manufacturing, cancer research, and a paid family leave program. The president’s proposal also adds $1.5 billion in funding for the Department of Labor, including agencies under its purview such as OSHA, and $1.2 billion to complete transportation projects in New York City, namely the Second Avenue Subway uptown expansion to Harlem and the Gateway Program train tunnels under the Hudson River.

“This budget reaffirms the Biden administration’s commitment to building prosperity from the bottom up, with a laser focus on helping working families,” IBEW International President Kenneth W. Cooper said, calling it a “blue-collar blueprint.” “On behalf of the 775,000 members of the IBEW, I call on Congress to act quickly and approve President Biden’s FY 2024 budget.”