President Biden and former president Donald Trump are officially facing off again in the 2024 presidential election. Focusing on the economy, Biden released his $7.3 trillion budget proposal for 2025 earlier this week.

The economy is a big concern for many voters this election year, and it’s a key topic in Maine, which is one of two states that splits its electoral votes. The Pine Tree State had its first split vote in 2016 when Trump won its rural second congressional district and then again in 2020.

The Labor Department reports that the price of everyday necessities rose 0.4% in February compared to the previous month and prices are up 3.2% from this time last year.

“Everything is ridiculous right now, especially at the grocery store. Inflation is bad,” said Kyle Edwards, who believes Trump has a better plan.

SOME SWING STATE VOTERS SAY ECONOMY WILL IMPACT THEIR 2024 PRESIDENTIAL VOTE

“The economy is energy, it’s money, it’s how we feel, it’s emotion. So if we feel like the economy is bad, we blame the leader,” said Craig Bythewood, a global economic professor at Purdue.

Others say though inflation has been tough, they are beginning to see a light at the end of the tunnel. 

“All things being considered, we are kinda coming out of it okay. It was just going to take some effort to do it,” said Shawn Walker, who declared he’s voting for Biden.

INFLATION RAN HOTTER THAN EXPECTED IN FEBRUARY AS HIGH PRICES PERSIST

Inflation under President Biden

HOUSE GOP LEADERS TEAR UP BIDEN’S NEW $7.3T BUDGET PROPOSAL

Biden proposes one of his main efforts is to help families combat inflation, as his plan includes reducing drug prices and increasing tax breaks for families and first-time homebuyers.

To cover the cost, he wants to increase taxes on the wealthy and corporations.

“What Biden is doing, what he is proposing would not specifically address inflation in any way. What it will do is take some of the burden off of paying for some of the things that need to be paid for the regular person,” Bythewood said. 

Homes in Maine

Trump hasn’t detailed his economic plan if he were to be re-elected, but he is trying to rally voters around the idea of increasing tariffs.

Biden’s budget proposal is not likely to pass in its current form. Congress is still working on the budget for the current fiscal year.

Read the full article here

Subscribe to our newsletter to get the latest updates directly to your inbox

Please enable JavaScript in your browser to complete this form.
Multiple Choice
Share.
2024 © Budget Busters Hub. All Rights Reserved.