I answered my own question today, I think, in that there isn't any wood behind the arrow of this "budget" because apparently this is largely symbolic and supposed to be an indication of what is important to the President. Some interesting detail about the proposal:
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For Congress, the release of the budget, a largely symbolic document, is seen as little more than a suggestion from the other end of Pennsylvania Avenue. Still, it is an important accounting of the administration’s priorities, most notably that Biden appears to be focusing on smaller policy specifics instead of on the sweeping changes in his Build Back Better bill, which he has spent much of his time in office promoting but which was relegated to a footnote in the budget document.
If you don’t have time to comb through all 149 pages, here’s what you need to know about the budget:
Spending: The budget would bolster domestic spending by 7 percent from current levels, to roughly $1.6 trillion.
Taxes: It proposes raising tax rates for corporations and the wealthiest Americans, including a “Billionaire Minimum Income Tax,” which add up to a $2.5 trillion tax increase over a decade. And as DealBook reported, it also urges new restrictions on stock buybacks.
Defense: The administration asks for $773 billion in military spending, a nearly 10 percent increase and a reflection of threats like Russia’s invasion of Ukraine. Cybersecurity is also a major security concern reflected in the budget.
Infrastructure: It calls for broad increases in funding for the Transportation Department to modernize roads, bridges, ports and public transit systems. The budget includes about $115 billion in funding that was part of the infrastructure bill passed by Congress last year.
Climate: It seeks $45 billion to address climate change — an increase of nearly $17 billion from the year before — for the five major agencies tasked with addressing environmental risks. The president also proposed $11 billion to help other countries hit hard by global warming.
Health: The administration asks for a major increase for the F.D.A.’s budget to prepare for another pandemic. The agency’s budget would rise by a third, to $8.4 billion.
Much, much more: There’s also a 21-percent increase in funding for education, new low-income housing vouchers, an 18-percent rise in spending on diplomatic programs, and a plan to modernize I.R.S. rules, including for crypto tax reporting.
Congressional responses to the budget largely fell along party lines. Democrats praised the emphasis on reducing the budget deficit. Republicans scoffed at proposed tax increases and warned that the proposals would do little to tame inflation. The president said his budget served a “bipartisan unity agenda.” And so begins another round of the arduous process of funding the government, which has become so fraught that the current fiscal year’s budget was approved only this month, too late to include as a basis for comparison for yesterday’s proposal for the next fiscal year.