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WASHINGTON - Over five months ago, we witnessed Hamas brutally attack the Israeli people. Unfortunately, the situation in the region has only gotten worse. Now more than ever, we must support our ally Israel in its efforts to defend itself against the attacks of Hamas and Iranian-backed proxies.
The Subcommittee on Financial Services and General Government will come to order. Welcome to our first subcommittee hearing on the Fiscal Year 2025 President’s Budget Request.
Appearing before the Subcommittee today are Treasury Secretary Janet Yellen, Office of Management and Budget Director Shalanda Young, and Chairman of the Council of Economic Advisers Jared Bernstein. I want to thank each of you for taking the time out of your busy schedules to be with us today. This will be an important discussion that should not be taken lightly.
We are here today to discuss the Biden Administration’s Fiscal Year 2025 budget request and our Nation’s economic outlook. And, I’m happy to share that this is the first time in over a decade that this committee has had a panel with the Treasury Secretary, OMB Director and CEA Chair.
Good morning. I want to thank you all for being here today to discuss the Department of Agriculture’s fiscal year 2025 budget request. Secretary Vilsack, I want to welcome you, and I look forward to hearing more about your priorities for the coming year, as well as having a discussion on other important issues under the jurisdiction of this Subcommittee.
USDA’s fiscal year 2025 budget request totals $25.1 billion, an increase of $2.2 billion, or almost 10%, over last year’s levels. As we review the request, we need to have an honest discussion about USDA’s priorities and where our constituents’ hard-earned taxpayer dollars make the greatest impact.
USDA’s most significant increase is for the WIC nutrition program. The budget requests a total of $7.73 billion for the program, which is an additional $700 million above the recently enacted FY 2024 level.
