White House Proposes $6 Trillion Budget

“The White House is set to propose on Friday a $6 trillion budget plan as President Biden seeks major changes to the U.S. economy and welfare system,” the Washington Post reports.

“The budget contains no new major policies from the White House and instead reflects the plans it has already introduced, including a $2.3 trillion infrastructure proposal, $1.8 trillion education and families plan, and $1.5 trillion in proposed discretionary spending.”

“It projects budget deficits above $1 trillion for the rest of the decade, as Washington’s spending imbalance remains at elevated levels. Even without new additional spending proposals, the annual federal budget is projected to include $5.8 trillion in spending in fiscal year 2021.”