Wednesday, September 22News That Matters

Biden’s Plan: President to Propose $6 Trillion Budget to Boost Middle Class, Infrastructure

If Mr. Biden’s plans were enacted, the government would spend what amounts to nearly a quarter of the nation’s total economic output every year over the course of the next decade. It would collect tax revenues equal to just under one fifth of the total economy.

In each year of Mr. Biden’s budget, the government would spend more as a share of the economy than all but two years since World War II: 2020 and 2021, which were marked by trillions of dollars in federal spending to help people and businesses endure the pandemic-induced recession. By 2028, when Mr. Biden could be finishing a second term in office, the government would be collecting more tax revenue as a share of the economy than almost any point in the last century; the only other comparable period was the end of President Bill Clinton’s second term, when the economy was roaring and the budget was in surplus.

The documents suggest Mr. Biden will not use his budget to propose major additional policies or flesh out plans that the administration has thus far declined to detail. For example, Mr. Biden pledged to overhaul and upgrade the nation’s unemployment insurance system as part of the American Families Plan, but such efforts are not included in his budget.

Administration officials have said the budget reflects the policies Mr. Biden has pushed Congress to enact this year and does not rule out future initiatives that are not included in this plan.

Mr. Biden’s spending requests also do not include money for a so-called public option for health care, which would allow Americans to choose to enroll in a public health insurance plan like Medicare instead of a private plan. But Mr. Biden will call on Congress to create such a public option as part of his budget proposal, a document obtained by The Times shows.

Mr. Biden will also express support for Congress allowing Americans as young as 60 years old to enroll in Medicare, and for efforts in Congress to reduce federal spending on prescription drugs, including allowing Medicare to negotiate prices with pharmaceutical companies, the document shows. It supports an expansion of Medicare to cover dental, vision and hearing services. Those efforts have been a top priority for Senator Bernie Sanders, independent of Vermont, who is the chairman of the budget committee. They are presented as goals in the budget but are not included in the proposed spending.

A spokesman for the White House budget office declined to comment on Thursday.

Administration officials are set to detail the full budget, which will span hundreds of pages, on Friday in Washington. On Thursday, Mr. Biden is scheduled to deliver an address on the economy in Cleveland.