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Biden set to release first detailed budget of his presidency on May 27

CommoditiesMay 13, 2021 02:36PM ET
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© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks on tackling climate change prior to signing executive actions in the State Dining Room at the White House in Washington, U.S., January 27, 2021. REUTERS/Kevin Lamarque/File Photo

By Trevor Hunnicutt

(Reuters) - U.S. President Joe Biden will unveil the first detailed budget proposal of his term in office on May 27, a spokesman said, offering a window into his priorities from defense spending to deficit reduction.

Biden in April outlined a glimpse at plans for about $1.5 trillion in "discretionary" spending, which represents only part of the budget.

The full budget, which covers the fiscal year starting in October, will be the first exhaustive list of the programs Biden wants to expand or cut - from foreign aid to immigration and policing. Rob Friedlander, a spokesman for the Office of Management and Budget, confirmed the late-May release date.

As the economy stumbles to recover from the coronavirus pandemic, the budget will offer a sense of how much the government wants to rein in deficit spending, as well as how it sees taxes and economic growth helping its agenda.

But it's merely one step in a spending process as Biden works to muscle through Congress some $4 trillion in spending on proposals ranging from infrastructure to childcare. Lawmakers must sign off on any spending Biden requests.

The outline Biden released in April marked a sharp departure from his Republican predecessor Donald Trump, spreading billions across areas ranging from public transit, poor schools, toxic site clean-ups, and background checks on gun sales, but nothing on border walls.

But Biden's plans for the Department of Defense drew the most attention. Liberals were disappointed that the roughly-even funding on an inflation-adjusted basis at $715 billion would fail to cut wasteful Pentagon spending. Conservatives want more spending to counter threats from China, Russia, Iran and North Korea.

Biden set to release first detailed budget of his presidency on May 27
 

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Comments (5)
talented trader
talent5566 May 14, 2021 7:06AM ET
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I think Trump *****video is still with Russia
Ominous Owl
Ominous Owl May 14, 2021 12:55AM ET
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Destroying your people at the cost of outsiders. That's first sign of decay.
Felipe Daniel
Felipe Daniel May 13, 2021 3:05PM ET
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Biden loves the military industrial complex. Biden loves to keep US border open to water down the American citizens vote. America Biden is not a socialist he is a communist.
Edward Sims
Edward Sims May 13, 2021 2:41PM ET
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Nobody cares what this demented geriatric puppet says. His own administration is counting down the minutes until he croaks or they have to use the 25th to complete their communist takeover.
Edward Sims
Edward Sims May 13, 2021 2:38PM ET
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Nobody cares, POTATUS Biden has already wasted more money and done more destruction to the country than any other president in their first 100 days.
 
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