The Breakdown of the $3.5 Trillion Senate Budget
Build Back Better: The Breakdown of the $3.5 Trillion Senate Budget
Blog
September 2021
House and Senate Democrats hope to pass a 10-year cascade, $3.5T Senate Budget this fall. The bulk of funding aims at COVID-19 relief; greater family support resources; increased health and education programs; expanded access to housing and homeownership; and an aggressive crusade to heal the climate.
Originally a $7T plan, the Biden Administration’s plan, Build Back Better, would be financed by raising taxes on the wealthy (those earning $400,000 or more) and large corporations. The revised $3.5 trillion budget is at the heart of Biden’s vision for creating a better future for all Americans through Education and Workforce Opportunities, Access to Affordable Housing, Family Care, and addressing Climate Change.
Here’s the current breakdown of the budget’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
$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
$37 billion to the Homeland Security and Governmental Affairs Committee
- Electrifying the federal vehicle fleet (USPS and Non-USPS)
- Electrifying and rehabilitating federal buildings
- Improving our cybersecurity infrastructure
- Border management investments
- Federal investments in green materials procurement
- Resilience
$107 billion to the Judiciary Committee
- Lawful permanent status for qualified immigrants
- Investments in smart and effective border security measures
- Community Violence Intervention Initiative
$20.5 billion to Indian Affairs Committee
- Native health programs and facilities
- Native education programs and facilities
- Native American housing programs
- Native energy programs
- Native resilience and climate programs
- BIA programs and facilities
- Native language program
- Native Civilian Climate Corps
$25 billion to Small Business Committee
- Small business access to credit, investment, and markets
$18 billion to Veterans Affairs Committee
- Upgrades to VA facilities
What does all this mean? In this unprecedented time of crisis, it means addressing the COVID-19 pandemic head on to minimize the threat to our economy, our environment, our health while providing relief to individuals and families most effected. It means creating good-paying jobs and tools for working families to break into and remain in the middle class. Building back better means improved access to safe, decent rental housing, homebuyer education, and affordable homeownership. It means reducing the costs of childcare an education and investing in clean energy and technology. In short, it means a better, cleaner, more innovative and equitable future for All Americans.
Resources:
https://www.whitehouse.gov/build-back-better/
Senate’s $3.5T budget: What you need to know (fox6now.com)
https://smartasset.com/financial-advisor/biden-infrastructure-plan
https://www.wsj.com/articles/democrats-budget-plan-what-11626301275