President Biden is expected to propose a $6 trillion budget that would have the highest consistent levels of federal spending since World War II. President Biden’s proposal looks to provide sweeping economic overhauls including large investments in education, transportation and combatting climate change. The proposal is also expected to call for total spending to rise to $8.2 trillion by 2031, which will include projected deficits of $1.3 trillion throughout the next decade.
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Ultimately this is just a proposal that realistically only highlights the Biden Administration’s agenda, it will be up to Congress to approve the federal spending budget. President Biden has already said that he is not ruling out future initiatives that weren’t included in this plan, so we can expect to see continued back-and-forth between the Administration and Congress on how much to spend, where to spend it, and who will pay for it.
https://www.bloomberg.com/news/articles/2021-05-27/biden-s-budget-proposal-raises-annual-spending-to-6-trillion?cmpid=BBD052821_OUS&utm_medium=email&utm_source=newsletter&utm_term=210528&utm_campaign=openamericas&sref=rl5GZj6e
How federal infrastructure investment can put America to work