President Biden to Release Proposed Budget as Part of Re-Election Campaign

President Joe Biden is expected to release his proposed budget to Congress on Monday as he outlines his preferred policies and ramps up his re-election campaign . Biden's budget proposal will serve as a key plank of his campaign platform as he seeks a second term in November's election. Presidential budget proposals tend to serve primarily as a blueprint for preferred policies and a messaging tool, and Congress typically declines to enact them wholesale.

The budget release also comes days after Biden delivered his State of the Union address, which previewed a number of provisions that will likely be included, and six weeks after it was due to be submitted under the Congressional Budget Act. In his address, Biden called for tax credits to help certain homebuyers and sellers in an effort to address housing affordability. The proposed credit would provide middle-class, first-time homebuyers with an annual tax credit of $5,000 a year for two years, which the White House said was the equivalent of cutting interest rates by more than 1.5 percentage points on the median-priced home

President Biden Proposed Budget Congress Re-Election Campaign Policies State Of The Union Tax Credits Housing Affordability

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