Budget Proposal Makes Key Investments, But Still Falls Short
Apr 12, 2013
By Kisha Bird
On Wednesday, President Obama released his long-awaited budget proposal for Fiscal Year 2014. Typically, the President's budget is released in February. This year, it was pushed back as he and Congress addressed the recent budget sequestration-arbitrary and indiscriminate cuts enacted through the Budget Control Act and the ongoing tug of war to fund the federal government. The President's budget ends sequestration, outlining proposals to increase revenues from high-income earners, but it also reduces federal funding to support low-income working families and communities. With so many already struggling, those proposed reductions have advocates concerned.
Still, the President's commitment to education, research, and infrastructure is certainly reflected in the FY 2014 budget. In addition to making unprecedented investments in early learning, the budget acknowledges investments for disadvantaged and disconnected youth. In this tough political and economic climate, the President's budget proposes:
- Includes $12.5 billion for the Pathways Back to Work Fund, including $2.5 billion for summer and year-round employment for youth and $10 billion for subsidized jobs for low-income adults. The proposed funding for the Pathways Back to Work will require Congress to act, reintroduce and pass bills previously introduced.