Biden budget speech slams oil profits, ‘MAGA Republicans’

By Robin Bravender | 03/09/2023 04:35 PM EST

The president made a pitch to the public Thursday to boost spending on policy priorities including climate and clean energy.

President Joe Biden speaks about his 2024 budget proposal in Philadelphia.

President Joe Biden speaks about his 2024 budget proposal at the Finishing Trades Institute in Philadelphia on Thursday. Evan Vucci/AP Photo

President Joe Biden made a public pitch for his annual budget proposal in Philadelphia on Thursday as he took aim at oil and gas companies’ profits and touted his administration’s climate change policies.

The president used his speech at a Philadelphia union hall to tout his team’s work during the administration’s first two years in office and to make a case for enacting the broad-ranging $6.8 trillion budget proposal released earlier Thursday.

“Here’s why I’m here today: For too long, working people have been breaking their necks. The economy has left them behind — working people like you — while those at the top get away with everything, get everything,” Biden said.


The White House’s budget proposal for fiscal 2024 would direct more funding toward the Biden administration’s policy priorities, including climate and clean energy programs. The plan seeks to increase revenue by increasing taxes on corporations and wealthy individuals and ending tax subsidies for oil and gas companies (Greenwire, March 9).

“My budget cuts wasteful spending by getting rid of special tax breaks for big oil companies who made $200 billion in profit last year,” Biden said.

Biden noted bipartisan accomplishments during his tenure, but he said the new GOP majority in the House has suggested “cooperation may have come to an end,” and he slammed “MAGA Republicans” for refusing to work with Democrats.

“This is not your father’s Republican Party,” he said.

Biden’s latest budget request seeks more money for climate agencies and their programs — a prospect that’s certain to see pushback from congressional Republicans.

“No one can deny that we have a climate crisis,” he said, touting his administration’s efforts to incentivize renewable energy.

“I’m from Scranton,” he told the crowd. “I’m not against coal per se. A lot of people made a living on that. But we’re providing incentives for folks to make the transition.”

He pointed to policies that offer tax credits and rebates for energy-efficient appliances. “The new heat pumps, they can heat the whole damn house,” he said. “I’m serious. Not a joke.”