Will Joe Biden's Social Security Administration Budget Pass?
In the 2023 proposed fiscal-year budget, President Joe Biden's administration is attempting to allocate about $14.8 billion to the Social Security Administration (SSA), which oversees the Social Security program for nearly 70 million Americans. That would be a $1.8 billion increase, or nearly 14%, from the SSA's budget in fiscal year 2022.
But the president's budget proposal is really just the beginning of the budget process. Before the budget can get approved, both the U.S. Senate and the House of Representatives will need to review and approve their own versions of the budget and then merge them into one.
Needless to say, a lot can change during this time, so how likely is Biden's proposed 14% increase for the SSA to get approved?
Source Fool.com
