The President's Budget for Fiscal Year 2015 | The White ...House
Opportunity for All: The
President’s Fiscal Year 2015 Budget
A Roadmap for Growth, Opportunity,
and Fiscal Responsibility: The President’s Budget provides a roadmap for accelerating
economic growth, expanding opportunity for all Americans, and ensuring fiscal
responsibility. It invests in infrastructure, job training, preschool, and
pro-work tax cuts, while reducing deficits through health, tax, and immigration
reform.
Builds on Bipartisan Progress: The Budget adheres
to the 2015 spending levels agreed to in the Bipartisan Budget Act and shows
the choices the President would make at those levels. But it also shows how to
build on this progress to realize the nation’s full potential with a fully paid
for $56 billion Opportunity, Growth, and
Security Initiative, split evenly between defense and non-defense priorities.
WHAT THE PRESIDENT’S BUDGET DELIVERS:
·
Stronger Growth and
Job Creation:
·
Advanced manufacturing –
Invests in American innovation and strengthens our manufacturing base,
including a national network of 45 manufacturing institutes.
·
Research and innovation – Supports ground-breaking research to
fight disease, protect the environment, and develop new technologies, and makes
permanent the R&D Tax Credit.
·
Pro-growth infrastructure
– Lays out an ambitious,
four-year $302 billion surface transportation reauthorization proposal paid for
with transition revenue from pro-growth business tax reform.
Government
reform – Promotes government management that
delivers improved services that are more effective, efficient, and supportive
of economic growth.
Opportunity for All:
Tax
cuts for working Americans – Doubles the
maximum value of the childless worker EITC to build on the EITC’s
success in encouraging people to enter the workforce and reducing poverty;
improves tax benefits that help middle-class and working families pay for child
care and college and save for retirement.
Preschool
for all – Invests in the President’s vision
of making access to high-quality preschool available to every four-year-old
child.
Job-driven
training – Invests in new efforts to drive
greater performance and innovation in workforce training to equip workers with
skills that match the needs of employers.
Fiscal Responsibility:
Continues
historic progress in slowing health care cost growth – Builds on the savings and reforms in the Affordable Care
Act with additional measures to strengthen Medicare and Medicaid, slow health
care cost growth, and improve the quality of care.
Pro-growth
tax reform – Curbs inefficient and unfair tax breaks that benefit the
wealthiest, and ensures that everyone is paying their fair share.
Immigration
reform – Supports comprehensive reform of our broken immigration
system, which independent economists say will grow our economy and shrink our
deficits.
Further
reduces the deficit and debt – By paying
for new investments and tackling our true fiscal challenges, reduces deficits
to 1.6 percent of GDP by 2024, and stabilizes debt as a share of the economy by
2015 and puts it on a declining path after that.
Continue reading at ….. http://www.whitehouse.gov/omb/budget