The White House budget proposal projects U.S. economic growth of 3.2 percent next year, before declining to 3 percent in 2021 and 2.8 percent in 2026, the Wall Street Journal reported, citing a preview of the plan.

The budget, which is due to be released on Monday, assumes the 10-year Treasury yield will average 2.6 percent this year and 3.1 percent next year before rising to 3.7 percent by early next decade, the Journal said.