President Barack Obama today sent a $3.9 trillion budget request to Congress, Bloomberg reported, with a request for increased spending for employment, education and job-training programs to boost the economy.
The budget would enhance tax-credit programs for some families and childless workers and put about $302 billion over four years into infrastructure projects, though it would allocate $25 billion less for weapons and research than what was projected a year ago.
The budget projects a $564 billion deficit this year, down 13 percent from a year ago.
The White House also emphasized $598 billion in tax increases for the wealthy over 10 years.
The proposal doesn't have much chance of passage in Congress, according tothis Reuters article, but it lays out the president's priorities in advance of November's congressional elections.
"Our budget is about choices; it's about our values," Obama said today.
The proposal drew pushback from Republican House Speaker John Boehner and House Budget Committee Chairman Paul Ryan. Boehner, in a statement, said, "The president has offered perhaps his most irresponsible budget yet."