Policy Update

Analyzing the Biden Administration's FY22 Budget Request

Wed, Jun 23, 2021


Amidst an historic global crisis, the Biden Administration’s first budget request reflects its commitment to U.S. global leadership and multilateralism. 

The budget request includes $63.7 billion for the International Affairs Budget, an 11% increase compared to the FY21 enacted level. Of that, $3.3 billion is requested for Treasury International Programs, a $1.4 billion or 73% increase from the FY21 enacted level. Much of the requested increase in Treasury International Programs is to support the International Financial Institutions.

If enacted, the budget would be the largest increase to the International Affairs Budget in over a decade. While this represents a vital down payment in addressing global recovery needs and signifies renewed commitment to
multilateralism, it represents a fraction (<1%) of overall spending.

Read BWC's budget overview to learn more about what has been requested for the IFIs and related multilateral initiatives and describe how the money would be spent if appropriated.