Last week, President Biden unveiled his first federal budget — a proposal with a $6 trillion price tag.
The budget’s summary declares that “America cannot afford to simply return to the way things were before the pandemic and economic downturn, with the old economy’s structural weaknesses and inequities still in place.” Instead, the Biden administration declares that America “must seize this moment to reimagine and rebuild a new American economy that invests in the promise and potential of every single American.”
The $6 trillion federal budget for fiscal year 2022 is the largest in American history. It surpasses President Trump’s 2021 proposal of $4.8 trillion, which was likewise the largest on record.
The Biden administration’s budget expands his American Jobs Plan and American Families Plan — omnibus packages that already cost $2.7 trillion and $1.8 trillion, respectively.
Below are five things you need to know about President Biden’s new budget.
After listing the key points of the American Jobs Plan and the American Families