President Joe Biden to propose $6 trillion U.S. budget for 2022 fiscal year

President Joe Biden will seek $6 trillion in U.S. federal spending for the 2022 fiscal year, rising to $8.2 trillion by 2031, the New York Times reported on Thursday, a day before the White House is expected to unveil its budget proposal.

Citing documents it had obtained, the Times said the Democratic president planned to pay for his agenda through increased taxes on corporations and high earners, and that the budget deficits would start to decrease in the 2030s.

On Friday, Biden is set to release his first full budget since taking office in January as he seeks to push his priorities of investing in infrastructure, childcare and other public works in a national rebuilding effort.


Republicans have criticized the president for seeking trillions in new spending, setting the stage for pitched battles over his priorities.