SBA seeks big boost to govcon & entrepreneurship 2023 funds
President Joe Biden presented his fiscal 2023 budget request to Congress, which includes a generous increase for small business priorities, including government contracting and entrepreneurship.
The president also outlined broader strategies of supporting economic growth and business development.
In total, Biden proposed $1.6 trillion in discretionary funds for fiscal 2023, a 7% increase from the fiscal 2022 enacted level.
The White House’s plan includes $813 billion for national defense, of which $773 billion is for the Defense Dept., a 4% increase.
Civilian agencies would receive $769 billion, an 11% increase. There is nearly $45 billion for addressing climate change, up from $28 billion last year.
To foster economic growth, the White House says the budget blueprint would reduce the national deficit by $1 trillion over the next 10 years by raising taxes on the wealthiest households.
As with every presidential budget request,...more....
