Biden has released his $6 trillion budget. Here's what's in it.

The budget proposal, which is an opening bid in negotiations with Congress and is expected to change before being signed into law, calls for the most sustained period of spending in more than half a century. The White House budget serves more as a marker of administration priorities than a policy blueprint destined to be signed into law. It would invest heavily in Biden's top priority areas including infrastructure, education, research, public health, paid family leave and childcare.

The proposal includes the American Jobs Plan and the American Families Plan, the $4 trillion infrastructure, jobs and economic proposal that the President had previously laid out and is negotiating with lawmakers. It also outlines additional funds to launch a new health research agency to focus on diseases like cancer, and funds to address gun violence, tackle the climate crisis, help end homelessness and curb the opioid epidemic.

"This budget is an agenda for robust, durable economic growth and broadly shared prosperity. It will deliver a strong economy now and for decades into the future, and is an investment in Americans all across the country who power our economy," said Shalanda Young, the acting director of the Office of Management and Budget, in call with reporters on Friday.

The scale of the spending, which Biden has made the center of his economic plans, is an intentional effort to transform an economy the President has repeatedly said leaves too many behind and, just as importantly, has made the US less competitive in the face of an ascendant China.

But it also comes as Republicans have ramped up sharp criticism of Biden's goals and as near-term economic data has served to add fuel to the arguments that Biden's proposals are simply too grandiose and could overheat the economy.

At its core, the budget underscores the fundamental divide in viewpoints between the two parties in the wake of the pandemic -- as well as the clear shift in the Democratic Party towards an embrace of ramping up spending and tax increases on corporations in the wealthy in order to expand the federal government's role in assisting those on the lower-end of the income scale.

Biden's legislative proposals, along with his public remarks in recent weeks, have served to underscore that the administration remains unbowed by the GOP criticism or uneven economic data of the last several weeks.

"Failing to make these investments at a time of such low interest costs would be a historic missed opportunity that would leave future generations worse off," Young said. "This budget does not make that mistake, and its investments will pay dividends for generations to come."

Biden is asking Congress for $932 billion for discretionary, non-defense programs for fiscal year 2022 -- a significant increase from last year. The President has proposed $756 billion in defense funding, which is also an uptick from last year.

The proposal calls for spending to increase to more than $8 trillion by 2031. It would reduce the annual deficit beginning in 2030 and by increasing amounts in the following years, and would shrink deficits by more than $2 trillion in the subsequent decades.

Young argued the investments are "front-loaded" and would be "more than paid for" by the reforms to the tax code that would require the wealthiest of Americans and corporations to pay higher taxes. The President has repeatedly pledged that Americans making less than $400,000 would not have to pay increased taxes.

The proposal is in line with the previous outline Biden released, known as a "skinny" budget, last month. He previously asked Congress for $769 billion for discretionary, non-defense programs, which was a 16% increase from former President Donald Trump's last budget. Biden's request also included $753 billion in proposed spending on national defense programs -- a 1.7% increase from last year.

Cecilia Rouse, the chair of the Council of Economic Advisers, argued on Friday the country needs to make up for "decades of underinvestment in important parts of our country."

"This is a solid budget that reflects President Biden's vision for investing in people and society and ensures that the economy grows, and that everyone shares in the prosperity. And it understands that the public sector is a key component in moving us forward," Rouse told reporters.

Biden has made racial equity a top focus of his administration, but there is no specific line item in the budget focused on addressing racial inequality. Young argued it wasn't necessary because Biden has directed the entire federal government to address racial inequality as it implements all of its programs.

"This is not something we should have to call out, this is something that should be pervasive in how the government does its business. So you may not see a line item, and I think that's more than appropriate with the way the President has asked his government to address these long-pervasive issues," Young said.

In addition to the American Jobs Plan and the American Families plan, the budget proposal calls for:

$36.5 billion for Title I schools, in which children from low-income families make up at least 40% of enrollment. It's a $20 billion increase from 2021 enacted levels$6.5 billion to launch the Advanced Research Projects Agency for Health (ARPA-H), a new program aimed at driving innovation in health research that will focus initially on diseases like cancer, diabetes and Alzheimer's$8.7 billion in discretionary funding for the US Centers for Disease Control and Prevention$10.7 billion in discretionary funding in the Department of Health and Human Services, an increase of $3.9 billion from 2021 enacted levels. The proposal also includes $621 million specific to the Department of Veterans Affairs' Opioid Prevention and Treatment programsAn increase of more than $14 billion compared to 2021 enacted levels across nearly every agency to tackle the climate crisis$2.1 billion for the Department of Justice to address gun violence, which is an increase of $232 million above 2021 enacted levels$30.4 billion for Housing Choice Vouchers to expand housing assistance to 200,000 additional families, and a $500 million increase for Homeless Assistance Grants to support more than 100,000 households, including survivors of domestic violence and homeless youth$1 billion for Department of Justice Violence Against Women Act programs, which is nearly double 2021 enacted levels$861 million in assistance to the Central America to address the root causes of irregular migrationIncreases the budget of the Executive Office for Immigration Review by 21% to $891 million to reduce court backlogs and hire 100 new immigration judges and support teamsIncreases funding for the Indian Health Service by $2.2 billion and provides $900 million to fund tribal efforts to expand affordable housing, improve housing conditions and infrastructure, and increase economic opportunities for low-income familiesThe budget also includes an increase of more than $450 million to facilitate climate mitigation, resilience, adaptation, and environmental justice projects in Indian Country

This is a breaking story and will be updated.