Futu News reported on May 27 that Biden will propose a budget plan of 6 trillion US dollars to drive a general rise in US infrastructure stocks. As of press release, US Steel has risen more than 7%, Summit Materials has risen more than 2%, Caterpillar has risen more than 1%, and McGary Infrastructure, the Kansas Southern Railway, and Norfolk Southern are following suit.

According to the New York Times, Biden plans to spend a $6 trillion budget on infrastructure, education, and healthcare in fiscal year 2022. The proposal is expected to be presented on Friday.

The budget request requires the federal government to spend $6 trillion in fiscal year 2022, which will bring continued US federal spending to the highest level since World War II and increase total spending to $8.2 trillion by 2031.

This growth is driven by Biden's two-part agenda, namely upgrading America's infrastructure and drastically expanding the social security network. These agendas include his American Jobs Plan (American Jobs Plan) and American Families Plan (American Families Plan), in addition to other plans to increase discretionary spending.