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Biden budget seeks hefty new taxes on wealthy and corporations

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$6.9-trillion proposal

The proposal aims to increase funding for government programmes and cut deficit by $3-trillion over 10 years

09 March 2023 – 21:19 Justin Sink and Erik Wasson

US President Joe Biden unveiled a $6.9-trillion budget proposal on Thursday, a defiant opening salvo in high-stakes negotiations with congressional Republicans over the debt ceiling and government funding.

The proposal, certain to be rejected by the Republican-controlled House of Representatives, showed little inclination for compromise, asking legislators to bolster the social safety net through a flurry of new taxes on the wealthy and corporations. ..

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