Unlikely to pass the House and Senate to become law, the proposal for fiscal 2025 is an election year blueprint about what the future could hold if Biden and enough of his fellow Democrats win in November. The president and his aides previewed parts of his budget going into last week's State of the Union address, and they provided the fine print on Monday

If the Biden budget became law, deficits could be pruned $3 trillion over a decade. It would raise tax revenues by a total of $4.9 trillion over that period and use roughly $1.9 trillion to fund various programs, with the rest going to deficit reduction

The president traveled Monday to Manchester, New Hampshire, where he called on Congress to apply his $2,000 cap on drug costs and $35 insulin to everyone, not just people who have Medicare. He also advocated for making permanent some protections in the Affordable Care Act that are set to expire next year

"I'm here in New Hampshire to talk about the budget I released today that would, I think, help in a big way," Biden said

Biden aides said their budget was realistic and detailed while rival measures from Republicans were not financially viable

"Congressional Republicans don't tell you what they cut, who they harm," White House budget director Shalanda Young said. "The president is transparent"

House Speaker Mike Johnson, R-La., issued a joint statement with other GOP leaders calling the Biden proposal a "glaring reminder of this Administration's insatiable appetite for reckless spending"

"Biden's budget doesn't just miss the mark, it is a roadmap to accelerate America's decline," the House Republican leaders said

Under the proposal, the government would spend $7.3 trillion next fiscal year and borrow $1.8 trillion to cover the shortfall from tax receipts