Op-Ed by Bob Bixby in The Hill: Biden’s budget includes $3 trillion in deficit reduction. It’s still not enough

The president’s heavy reliance on tax increases to reduce future deficits, even while increasing spending, obviously makes his budget “dead on arrival” with House Republicans. On the other hand, a deficit reduction plan based solely on spending cuts, as Republicans seem intent on proposing, would be equally dead on arrival at the White House. Without some compromises that unquestionably will be politically difficult, deficits and debt will continue their relentless climb into uncharted territory. In that regard, the president’s goal of reducing future deficits by roughly $3 trillion over 10 years is a good starting point for bipartisan negotiations. Now it’s time to see the Republicans’ budget.