Arlington, VA – The Biden-Harris Administration today submitted to Congress the President’s Budget for fiscal year 2023. The President’s Budget details his vision to expand on the historic progress our country has made over the last year and deliver the agenda he laid out in his State of the Union address – to build a better America, reduce the deficit, reduce costs for families, and grow the economy from the bottom up and middle out.
The Budget makes critical investments in the American people that will help lay a stronger foundation for shared growth and prosperity for generations to come, as demonstrated by the record budget proposed for the U.S. Trade and Development Agency.
“USTDA is one of the most effective, targeted, and proven solutions within the U.S. government. Our project preparation and partnership-building activities place us at the forefront of infrastructure development in emerging economies,” said Ambassador Vinai Thummalapally (ret.), USTDA’s Acting Director. “The President’s Budget will greatly enhance our proven ability to support U.S. jobs through exports while helping developing and middle-income countries transition to net zero economies and advancing the goals of the Build Back Better World Initiative. Our unique dual mission makes USTDA the embodiment of a foreign policy for the middle class.”
On average, USTDA has generated $117 in U.S. exports for every dollar programmed. The Agency has facilitated more than $76 billion in U.S. exports since its founding in 1992. These exports have benefited U.S. companies across the country, including small businesses from more than 370 communities.
The Budget makes these smart investments while also reducing deficits and improving our country’s long-term fiscal outlook.
For more information on the President’s FY 2023 Budget, please visit: https://www.whitehouse.gov/omb/budget/.
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
MEDIA INQUIRIES: Paul Marin | (703) 875-4357