Obama's Budget Would Cut Deficit by $1.1 Trillion
Black Enterprise Magazine September/October 2018 Issue

obama talkingLast week was all about crisis management for the White House. But if President Barack Obama and his administration can shift attention back to his agenda, there’s a budget package ready for Congressional consideration.

If enacted, Obama’s budget proposal would cut more than $1.1 trillion from national deficits over 10 years, the Congressional Budget Office said on Friday.

Obama’s proposal, when released last month, got little more than a murmur in Washington, the New York Times reports. His proposal includes almost $1 trillion in tax increases on high-income family, an increase on tobacco taxes and introduces the Buffett Rule, a minimum tax on an individual’s income over $1 million.

Senate Democrats and House Republicans have not yet agreed to begin talks on this budget. (Most of them are distracted by the I.R.S. scandal and the Benghazi controversy, among other things.)

Join the Conversation

Aaron Morrison

Aaron Morrison is an award-winning New York area-based multimedia journalist with a B.A. in Journalism from San Francisco State University. Aaron uses video, audio, photography, the web and social networks to tell captivating stories across all media platforms. Over the last year, Aaron has worked as a general assignment reporter for the Daily Record (Gannett) in northern New Jersey. Before that, he spent the spring of 2010 as the temporary legislative relief reporter for The Associated Press' statehouse bureau in Trenton, N.J. In his down time, Aaron enjoys the company of his friends and extended family. He is a fan of culinary arts and dreams of having a home kitchen so tricked out that Julia Child turns over in her grave.

MORE ON BlackEnterprise.com