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White House to propose $6 trillion budget plan as administration seeks to reshape economy, safety net by   Buy PhotoThe White House as seen from the south lawn on May 24, 2018. (Carlos Bongioanni/Stars and Stripes) WASHINGTON — The White House is set to propose on Friday a $6 trillion budget plan for 2022 as President Joe Biden seeks major changes to the U.S. economy and welfare system, according to two people briefed on the proposal and an internal summary document. The people spoke on the condition of anonymity to discuss a matter not yet made public. The budget stacks together the nu...

President Biden is expected to exclude student loan forgiveness from the upcoming annual White House budget proposal, despite pressure from progressive Democrats to cancel up to $50,000 in debt per borrower.

NationofChange Democrats ‘must be trying to lose’: Progressives fume after report says Biden budget excludes key promises “If the aim is to avoid a midterm massacre, why would you do this?” asked one political critic. Progressives are fuming in response to reports that President Joe Biden’s forthcoming official budget proposal will not include a public option, drug pricing reform, student debt cancellation, or an estate tax increase. Fulfilling these campaign pledges is necessary to improve the lives of working people in the United States, left-leaning cri...

White House budget unlikely to include campaign plans for cancellation as administration mulls executive authority to eliminate federal debt

Biden set to release first detailed budget of his presidency on May 27 By Trevor Hunnicutt Reuters (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...