Return to the Latest

The President’s Budget Provides Promising New Path, But Student Debt Crisis Persists

June 1, 2021
Contact: Juan Ramiro Sarmiento
(785)760-6567 |

The President’s Budget Provides Promising New Path, But Student Debt Crisis Persists

(Washington, DC) – The White House released The President’s Fiscal Year 2022 Budget last Friday calling for $6 trillion in total spending, charting a new path for the country, and rejecting “trickle-down” economics and small-government philosophy. The budget raises taxes on the most wealthy Americans, includes investments in education and infrastructure, and significantly expands the social safety net.

In response, Jesse Barba, Senior Director of External Affairs for Young Invincibles, issued the following statement:

“Budgets are always a reflection of our values as a nation. We applaud President Biden’s FY22 request, as it illustrates this Administration’s deep commitment to tackling challenges young people face head-on while continuing to support the country as it recovers from the pandemic. With youth unemployment still sitting at 11 percent, it will take an enormous shift in the way our federal government prioritizes young people and this budget is another step towards recovery.

The White House’s proposal includes a number of provisions that will help put young Americans back to work, on better health care plans, and with better access to higher education. The robust funding increases at the Department of Education, Health and Human Services, and Housing and Urban Development will enable young people to better participate in a recovering economy.

This increased funding will allow for much-needed expansions to meet critical needs such as child care, public health, substance use disorder and mental health treatment, education from pre-k through college, and innovative job training programs.

We are, however, disappointed to see broad student debt cancellation not included as part of this budget request. Canceling student debt is a moral, racial and economic imperative that cannot be ignored. We hope to work with the Administration in the months ahead on a long-term solution to student debt.”

The President’s Fiscal Year 2022 Budget includes:
– American Jobs Plan | $2.3 Trillion
– American Families Plan | $1.8 Trillion
– Discretionary spending | $1.5 Trillion