FOR IMMEDIATE RELEASE
March 10, 2023
Contact: Juan Ramiro Sarmiento
(785) 760-6567 | JuanRamiro.Sarmiento@younginvincibles.org

President’s Budget Sets Stark Contrast

Budget cuts deficit by $3 trillion, bolsters critical investments for young adults.

(Washington, DC) – Yesterday, the White House released The President’s Fiscal Year 2024 Budget calling for $6.8 trillion in total spending, setting the contours of the budget negotiations to come, and doubling down on long-sought legislative priorities. The budget shores revenue by raising taxes on the wealthy, cutting the deficit, and raising military spending. It also bolsters critical spending in social programs and safety net measures.

As expected, opposition leaders in Congress promptly dismissed the President’s budget and indicated a desire for significant cuts in the upcoming debt limit fight.

In response, Kristin McGuire, Executive Director for Young Invincibles, the largest young adult advocacy and policy organization in the nation, issued the following statement:

“We commend President Biden for his unapologetic support for the American people, particularly young adults whose priorities were met with increased funding and attention. The challenges of our recent time illuminated the systemic challenges facing many nationwide, and investing in their needs is the path forward.

The budget proposal includes key investments in health care, higher education, and workforce development that can help build a stronger foundation for a healthy, long-term economy. The budget strengthens the ACA, tackles prescription drug prices, and outlines improved behavioral health services. On the higher education front, it increases investment in Pell Grants, provides state and institutional support for student completion, and reiterates commitment to free community college. In the workforce, labor protection agencies are bolstered, childcare funding is increased, and paid family and medical leave are expanded.

These budget priorities speak to the needs of young Americans and the much-needed investments that have been long deferred. While we know these will not gain the enthusiastic support of some leaders in Congress, we know the importance of unequivocally stating your values and priorities. YI will continue to fight to deliver the funding and support to ease the burden on those who need it most.”

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Young Invincibles (YI) is a national advocacy and policy nonprofit organization focused on amplifying the voice of young people in the political process at the local, state, and federal levels. YI focuses on issues impacting young adults ages 18 to 34 in higher education, health care, economic security, and civic engagement. Our offices include Washington, D.C., California, Colorado, Illinois, New York, and Texas. For more information, please contact Juan Ramiro Sarmiento at (785) 760-6567 or juanramiro.sarmiento@younginvincibles.org