The federal budget blueprint that President Joe Biden released last week provides $5 million to set up a new federal entity called the “Great Lakes Authority” that would promote regional development.
to create the new entity, said she was pleased with its inclusion in Biden’s budget, and predicted it “will serve as a powerful catalyst to strengthen our Midwest region and move us ahead for the 21st century.
in spending at Cleveland’s NASA Glenn Research Center, a nearly 6 percent increase from the previous year. Among other things, Biden’s plan would impose a 25% minimum tax on the wealthiest 0.01% of households, would quadruple a 1% surcharge on corporate stock buybacks, would restore the top marginal income tax rate to 39.6%, and boost corporate income tax rate from 21% to 28%.
“Most of this massive borrowing is the result of policies put in place years ago by Democratic and Republican administrations and Congresses alike, but it will require presidential leadership to enact real changes, and this budget does not go nearly far enough to make reining in our dangerous debt levels a top national priority,” said MacGuineas
A statement from Champaign County Republican Rep. Jim Jordan criticized it for raising taxes, imposing Second Amendment restrictions, and spending money the federal government doesn’t have.A statement from Akron Democratic Rep.
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