The FY2014 Federal Government Budget was released by the Executive Branch and sent to the Legislative branch on April 10, 2013. The budget proposal is 244 pages long. President Obama indicated that this budget proposal was geared to make America a magnet for new jobs and manufacturing. So what does that mean and how will that create opportunities? I want to explore a little of that here.
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Last week we talked about some of the opportunities in the President's proposed new budget for FY2014. I would like to look at more of the specifics of how that might translate into something good for small business. The Office of Management and Budget issued some insight to the thinking behind the FY2014 budget. The main emphasis is, of course, to help build-up and support a strong middle class in America. These programs are seen to either support that or help Americans reach that level. The main thrusts of the budget are:
President Obama has sent his preliminary budget request for FY2014 to Congress as of Wednesday this week. In his release, President Obama stated that the budget would emphasize job creation, emphasize education, health care and emphasize energy independence. He replaced certain Sequestration cuts with more targeted cuts that should result in an additional $1.8 trillion cut (he stated this was a compromise offered to Speaker Boehner) that he indicated is more balanced than the sequestration cuts.