Republicans immediately rejected Biden's plan, but have yet to release their own budget. They have made it clear, however, that they want to apply deep spending cuts to everything from health insurance to food assistance benefits.
Biden’s blueprint includes several recently passed laws which are expected to create millions of good-paying jobs in construction, manufacturing, and other sectors.
Republicans have said they want to extend the Trump tax cuts, which mostly benefited billionaires and corporations; cut spending on Social Security and Medicare; and repeal the Inflation Reduction Act, which lowered the cost of prescription drugs and raised taxes on corporations.
"The money we raise will allow me to invest in working people and growing the middle class and advancing racial equity across the economy," Joe Biden said.