On March 11, U.S. President Joe Biden presented his ambitious 2025 budget proposal, totaling $6.9 trillion for 2024. This marks a significant $400 billion increase from the previous fiscal year, highlighting a strategic shift in U.S. priorities.
Key areas of investment include defense, domestic programs, and a strengthened Department of Justice focused on anti-monopoly efforts. Notably, the State Department will receive additional funding to enhance its capabilities in competing with the People’s Republic of China (PRC).
A senior agency official emphasized that the budget aims to leverage \"all available tools\" to address China's rising influence. The State Department's initiatives, such as the Countering PRC Influence Fund (CPIF) and the Partnership for Global Infrastructure and Investment (PGI), are designed to offer alternative solutions and curb problematic activities from China.
To further bolster its competitive stance, the budget allocates an extra $4 billion over five years for investments in the Indo-Pacific region and international infrastructure. This move is intended to strengthen the U.S.'s position in key global markets and infrastructure development.
The Department of Commerce has also earmarked $223 million for the Bureau of Industry and Security (BIS). This funding addresses the PRC's persistent efforts in illicit technology transfers aimed at military-civil fusion, seen as a major threat that requires enhanced federal resources to combat effectively.
This budget announcement comes in the wake of President Biden’s electrifying State of the Union address, which has been described as one of the most politically charged in recent history. As the upcoming presidential election approaches, Biden faces renewed competition against his predecessor, Donald Trump, setting the stage for a high-stakes political landscape.
Reference(s):
cgtn.com
