Biden’s first budget proposal embraces bigger government | Vox


There’s a consistent theme in President Joe Biden’s first budget proposal, released Friday morning: The federal government can help solve big problems. But to do that, the country needs to reinvest in areas it’s neglected for decades.

The $1.5 trillion discretionary funding request is only a proposal — and not even a complete budget proposal, with a more comprehensive version including mandatory spending and tax changes coming this spring. But it’s an important window into the new administration’s priorities, calling for a boost in domestic spending on issues ranging from education in poor communities to the opioid epidemic to climate change to pandemic preparedness.

Source: Biden’s first budget proposal embraces bigger government – Vox

Biden’s Infrastructure Plan: Who Are the Winners and Losers? | Knowledge@Wharton


The American Jobs Plan (AJP) proposed by President Biden on March 31 would spend $2.7 trillion and raise $2.1 trillion dollars over the 10-year budget window of 2022–2031, according to the Penn Wharton Budget Model (PWBM), a nonpartisan initiative that analyzes the economic impact of public policy proposals.

The AJP’s tax and spending provisions would increase government debt by 1.7% and reduce GDP by a quarter percentage point by 2031, the study projected. By 2050, however, government debt would fall by 6.4% and GDP would decrease by 0.8%, according to its estimates.

Source: Biden’s Infrastructure Plan: Who Are the Winners and Losers? – Knowledge@Wharton

‘Fighting for Survival.’ Mongolia’s China Problem | Time


Back in August of 2014, Tsakhiagiin Elbegdorj had Xi Jinping over for lunch.

Mongolia’s then president had been coached by Chinese officials about the pomp expected when entertaining their head of state—but it was a tall order. “In Mongolia, we don’t have many rooms for dancing,” Elbegdorj laughs.

He decided instead on a more low-key approach. Elbegdorj, Xi and their wives enjoyed a meal of Mongolian staples—grilled meat, cheese, dumplings—at the president’s residence in a southern part of the capital Ulaanbaatar. In these quiet surroundings, Elbegdorj says the two leaders broached several sensitive issues. They discussed the potential for ethnic Mongolians to freely travel between Mongolia and the Chinese territory of Inner Mongolia. They also spoke of nationalist Chinese calls for Mongolia to be absorbed into the People’s Republic, and even discussed Tibet’s spiritual leader the Dalai Lama, who is venerated by Mongolian Buddhists yet reviled by Beijing as a dangerous seditionary.

Source: ‘Fighting for Survival.’ Mongolia’s China Problem | Time

Huawei eyes opportunity posed by EU semiconductor goals | EURACTIV.com


Telecoms giant Huawei is keen to work alongside European companies to help the bloc achieve ambitious new benchmarks for semiconductors by 2030, as the firm continues to face challenges resulting from US trade restrictions.

Since being put on a US export blacklist by the Trump administration in 2019, China’s Huawei has faced obstacles in sourcing components required in the development of its own chips.

Speaking at Huawei’s global analyst summit on Monday (12 April), rotating Chairman Eric Xu warned of the damage that the continuation of these restrictions could do to global semiconductor supply chains, and said that ongoing sanctions on Huawei’s business with American firms could raise costs within the industry across the globe.

Source: Huawei eyes opportunity posed by EU semiconductor goals – EURACTIV.com

Biden Highlights Need to Invest in US Chip Infrastructure | GovCon Wire


President Joe Biden said the U.S. should invest in its semiconductor infrastructure to address the current chip shortage, NBC News reported Tuesday.

“These chips, these wafers … batteries, broadband — it’s all infrastructure. We need to build the infrastructure of today and not repair the one of yesterday,” Biden said Monday during the CEO Summit on Semiconductor and Supply Chain Resilience. “The plan I propose will protect our supply chain and revitalize American manufacturing.”

Source: Biden Highlights Need to Invest in US Chip Infrastructure – GovCon Wire

Biden to Sell Infrastructure Plan as Vital to Keep Up With China


White House Press Secretary Jen Psaki declared that “the evidence is unanimous that the American people support” Biden’s vision for the U.S. economy, citing initial polling around the infrastructure plan.

Biden seeks to pressure lawmakers to back the proposal by rallying support from voters. Republicans have balked at the level of spending the president proposed and the plan’s priorities, including hundreds of billions of dollars for child and elderly care, in addition to objections over the tax increases.

Source: Biden to Sell Infrastructure Plan as Vital to Keep Up With China