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Biden's first budget asks for $715 billion for Pentagon, naming China as top challenge

The Biden administration unveiled its first budget proposal to Congress on Friday, offering a glimpse into President Biden's policy agenda for the 2022 fiscal year.

Why it matters: The $1.52 trillion budget proposal outlines top-line figures for Biden's major priorities, though it will ultimately be up to Congress to begin the lengthy appropriations process and allocate funding to federal agencies.

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