Senate’s $3.5T budget: What you need to know

Breaking down the Senate's 3.5 trillion budget

House and Senate Democrats hope to pass a $3.5 trillion budget this fall.

WASHINGTON - House and Senate Democrats hope to pass a $3.5 trillion, 10-year cascade budget this fall made up of federal resources, aiming historic sums at family support, health and education programs and an aggressive drive to heal the climate.

Many of its proposals would be financed by raising taxes on the wealthy and large corporations while sparing people earning under $400,000 annually, an oft-repeated Biden pledge and liberal goal. The $3.5 trillion budget is at the heart of Biden’s "Build Back Better" vision for helping families and combating climate change.

Here’s the current breakdown of the budget framework’s main elements:

$135 billion to the Agriculture Committee

Agriculture conservation, drought, and forestry programs to help reduce carbon emissions and prevent wildfires
Rural development and rural co-op clean energy investments
Agricultural climate research and research infrastructure
Civilian Climate Corps funding
Child nutrition
Debt relief

$332 billion to the Banking Committee

Creation and preservation of affordable housing by making historic investments in programs like the Housing Trust Fund, HOME, the Capital Magnet Fund, and rural housing
Improve housing affordability and equity by providing down payment assistance, rental assistance, and other homeownership initiatives
Community investment, development and revitalization through initiatives like
Community Land Trusts, investments in CDBG, zoning, land use, and transit improvements and creating healthy and sustainable housing
Public Housing Capital Investments and Sustainability

$83 billion to the Commerce Committee

Investments in technology, transportation, and more
Research, manufacturing, and economic development
Coastal resiliency, healthy oceans investments, including the National Oceans and
Coastal Security Fund
National Science Foundation research and technology directorate

$198 billion to the Energy Committee

Clean Electricity Payment Program
Consumer rebates to weatherize and electrify homes
Financing for domestic manufacturing of clean energy and auto supply chain technologies
Federal procurement of energy-efficient materials
Climate research
Research infrastructure for DOE National Labs
Hard Rock mining
Department of Interior programs

Biden remarks on House passing $3.5T budget bill

President Joe Biden gave his remarks on the House passing his $3.5 trillion budget and infrastructure bill on Tuesday. The 220-212 vote was a first step toward drafting Biden’s $3.5 billion rebuilding plan this fall.

$67 billion to the Environment and Public Works Committee

Clean Energy Technology Accelerator that would fund low-income solar and other climate-friendly technologies
Environmental justice investments in clean water affordability and access, healthy ports and climate equity
EPA climate and research programs
Federal investments in energy-efficient buildings and green materials
Appalachian Regional Commission and Economic Development Administration economic development and transition programs
Investments in clean vehicles
Methane polluter fee to reduce carbon emissions

$726 billion to the committee on Health, Education, Labor, and Pensions

Universal Pre-K for 3 and 4-year olds
Child care for working families
Tuition-free community college
Investments in HBCUs, MSIs, HSIs, TCUs, and ANNHIs
Increase the maximum Pell grant award
School infrastructure, student success grants, and educator investments
Investments in primary care, including Community Health Centers, the National Health
Service Corps, the Nurse Corps, and Teaching Health Center Graduate Medical
Education
Health equity (maternal, behavioral, and racial equity health investments)
Pandemic preparedness
Workforce development and job training
Labor enforcement and penalties
Civilian Climate Corps funding
Research infrastructure, including for HBCUs, MSIs, HSIs, TCUs, and ANNHIs