In this April 15, 2021, file photo, President Joe Biden speaks in the East Room of the White House in Washington.

President Biden releases his first budget today that includes historic levels of spending not seen since WWII and is sure to face problems on Capitol Hill.

The president previewed his plan at Cuyahoga Community College in Cleveland Thursday calling for record spending to keep up with countries like China and Japan.

"We must be number one in the world to lead the world in the 21st century," he said.

His spending plan hikes taxes by more than $3 trillion by raising the corporate tax rate, increasing capital gains rates on top earners, and raising income taxes on the wealthy.

"The best way to grow our economy is from the bottom up in the middle out," he said.

Still, The New York Times reports, he allows Trump era tax cuts for low earners and the middle class to expire in 2025, although they could be extended in the future.

Among many other things, Biden's plan includes:

• Free preschool to all 3 and 4 year olds


• Two years of free community college for all Americans


• Subsidized child care