NEW YORK (AP) The President is proposing a $1.5 trillion spending boost to the U.S. economy as part of his latest budget proposal, one that includes a massive tax cut and cuts to military spending.
But the details of the plan are still being worked out.
President Biden is proposing $1,000 for every person in the U, and the government would be spending about $3 trillion a year in federal spending, according to a draft budget proposal released Wednesday by the Office of Management and Budget.
That’s about the same amount the government spent during the last financial crisis, when the U was hit hard by the financial crisis.
The proposal is the first step in a new era of President Biden.
Biden has spent much of his presidency working on a budget and is aiming to make major changes to the nation’s tax system.
But he has struggled to get his proposals to Congress.
His administration announced a $3.8 trillion plan last week to make its case for spending more, but it still lacks the support to pass.
The president said the $1 trillion proposal would create 1 million jobs and raise the U’s gross domestic product by 1 percent.
But that plan, along with the president’s proposed budget proposal last week, would not have much of an impact on the economy because it would only raise taxes on the wealthy.
Biden is also proposing spending an extra $5 trillion to finance the stimulus program.
He has proposed raising taxes on high earners to help pay for the government’s new stimulus plan.
The plan is also targeting $3 billion a year for a new national health care program, but there is no mention of those measures in the draft budget.
The plan also contains some cuts, such as a proposed $500 billion cut in the Department of Veterans Affairs budget.
Biden’s proposed spending plan is likely to be unpopular with the public, who tend to be more worried about taxes and deficits.
The budget proposal also calls for the cancellation of the Affordable Care Act’s Medicaid expansion and cuts in other entitlement programs, including the Child Nutrition Assistance Program and the Supplemental Nutrition Assistance Programs for Women, Infants and Children.
Biden said in a press release Tuesday that he wants to “strengthen and modernize” the U while making the country more competitive.
A spokeswoman for the White House did not immediately respond to a request for comment.
Trump’s budget proposal is still being reviewed by the White