President Biden plans to present a $6 trillion investment in transportation, infrastructure, education, environmental efforts and other factors relevant to the U.S. economy, the New York Times reported Thursday.
The planned budget proposal for fiscal year 2022 aligns with Biden's agenda to improve the nation's social security standards and modernize public infrastructure.
Biden's plan would require historically high levels of spending for water piping, manufacturing research, internet service, and other investments that aim to sustain U.S. global competitiveness.
The investment would also include boosted spending in the areas of social welfare and national security. New York Times reported Biden's plan might require borrowed funds in addition to boosted tax revenue.