The President initially proposed a $2.25 trillion infrastructure plan to rebuild the nation’s crumbling infrastructure and shift the nation over to greener energy. Senate Republicans on Thursday made a $928 billion counteroffer, which still falls short of the $1 trillion that Senate Republicans said Biden was open to during their White House negotiations. ![]() The budget proposal will come as negotiations intensify over a bipartisan deal on Biden’s large-scale infrastructure and jobs proposal. The New York Times was first to report the budget proposal. ![]() The budget fills in some of the gaps, but also highlights the projected deficit. The President has already outlined two sweeping proposals – the American Jobs Plan and the American Families Plan – to remake the social safety net in the US. The budget proposal, which will be submitted on Friday, calls for spending to increase to more than $8 trillion by 2031. The budget proposed by the White House is the President’s opening offer to Congress in negotiations over the federal budget and is expected to change before being signed into law.Ĭongressional Republicans are already sounding the alarm about the Biden administration’s spending plan and deficits – a point they rarely discussed during the Trump administration – as the question of the size and scope of economic recovery looms large in Washington. The budget proposal calls for the most sustained spending in more than a half-century, which forecasts deficits at more than $1 trillion for at least the next decade. ![]() The White House on Friday will propose a $6 trillion budget for the 2022 fiscal year, a senior administration official tells CNN, as President Joe Biden prepares to outline his spending blueprint for the first time in his formal request to Congress.
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