Obama sends Congress $3.9 trillion budget to boost growth

President Barack Obama sent Congress a $3.9 trillion budget request Tuesday.

Bloomberg reports the budget increases spending for employment, education and job-training programs to boost the economy, financed partly by trimming tax breaks for upper-income families and some businesses.

The sixth budget of Obama’s presidency, the request would increase taxes by $598 billion for the wealthy during the next 10 years.

The Bloomberg report notes the deficit-to-gross domestic product ratio is projected at 3.7 percent this year, dropping to 3.1 percent next year. It measured 9.9 percent when Obama took office in 2009.

Congressional Republicans immediately rejected the budget.

Read more from Bloomberg.