More for Climate Aid, Amtrak, IRS Audits: Key Budget Takeaways

President Joe Biden’s $1.52 trillion spending plan for the next fiscal year provides the most detailed picture yet of his priorities as he draws an ever sharper contrast to his predecessor.

President Biden proposed major boosts in funding to combat inequality, disease and climate change as part of a $1.52 trillion budget.

Source: Bloomberg)

Overall, Biden is calling for an increase in regular non-emergency funding from $1.4 trillion to $1.52 trillion in fiscal 2022, an 8% increase. Most of the increase would be dedicated to domestic social programs, with a 16% increase compared to defense spending which would rise 2%.

Biden’s budget will face a tough road in a Congress with narrow Democratic majorities. Unlike the partisan route Democrats used for ...