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Joe Biden is set to start a long pitched battle with Republicans
Credit: REUTERS
Joe Biden is set to unveil plans on Friday for the biggest sustained US government spending since the Second World War in a record-shattering proposed budget for next year.
It would amount to more than one quarter of America s gross domestic product (GDP) and see annual spending rising to a projected $8.2 trillion by 2031.
The proposal will mark the start of a long pitched battle with Republicans ahead of the deadline for approval of a budget at the end of September.
Under Mr Biden s plan, the budget deficit would be $1.8 trillion in 2022 despite the economy rebounding from the pandemic with projected growth of 5 per cent this year, and 4.3 per cent next year.
What to watch for in Biden s budget: Israel, student loans, growing deficits
05/27/2021 | 10:15am EDT
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WASHINGTON (Reuters) - President Joe Biden will unveil his first full budget on Friday, setting the stage for a pitched battle with Republicans opposed to his plans to spend trillions on infrastructure, childcare and other public works.
The Democratic president in April provided a partial wish list for about $1.5 trillion in government spending for the fiscal year that starts on Oct. 1, just a sliver of the total budget.
Friday will see more details, from foreign aid to immigration and policing, and could include jumps in funding for Medicaid and other social programs that consume most federal government spending.