I've confirmed it is Giant Salvinia.

FishinRod, I am here to hopefully get advice on what course of action to take. I'd like to first drain the pond so I can assess what I have. Can a trash pump do this or would the salvinia be too much and clog it?

After draining, depending on depth and muck, possibly dig it a little deeper. In the end, I just want a body of water that is nice to look at and that my kids can catch some perch and maybe a few bass.

I appreciate any advice yall can offer. What would YOU do if it was your pond? Id not want to make it any larger. Deeper maybe, but not take up any more space.