FeaturedBiden’s Budget Proposes Trillions in Tax Hikes, Partly Repeals Trump’s Tax CutsSavePrintPresident Joe Biden briefly addresses journalists from the South Lawn of the White House in Washington, on Mar. 3, 2023. Roberto Schmidt/AFP via Getty ImagesAndrew Moran3/9/2023|Updated: 3/9/20230:00X 1President Joe Biden unveiled the third budget of his presidency, vowing to increase spending, raise taxes, and reduce the federal deficit.Over the next decade, the $6.8 trillion budget (pdf) proposes approximately $5.0 trillion in tax increases on high-income earners and corporations.We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.Share this articleLeave a commentAndrew MoranAuthorAndrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."Author’s Selected ArticlesUS Annual Inflation Rate Slows Sharply to 2.4 Percent in JanuaryFeb 13, 2026Alphabet’s Century Bond May Signal Big Tech Relying More on Debt to Fund AI BuildoutFeb 12, 2026US Deficit, Debt Will Worsen Over Next 10 Years: CBOFeb 12, 2026US Jobless Claims Edge Lower as Winter Storm Effects LingerFeb 12, 2026Related TopicsbudgetMcCarthypresident joe biden
