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 ArticlesWarsh Pick Sparks Selloff in Gold and Silver as Fed Independence Fears RecedeJan 30, 2026What to Know About Kevin Warsh, Trump’s Nominee for Fed ChairJan 30, 2026Wholesale Inflation Unexpectedly Rises at Fastest Pace in 3 MonthsJan 30, 2026Trump Picks Kevin Warsh as New Federal Reserve ChairJan 30, 2026Related TopicsbudgetMcCarthypresident joe biden
