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 ArticlesMortgage Rates Plunge as Government Plans Bond Buying—Here’s How It WorksJan 09, 2026US Worker Productivity Surges in 3rd Quarter—Fastest Gain in 2 YearsJan 09, 2026Argentina Repays $20 Billion US Swap Line, Bessent SaysJan 09, 2026Copper Prices Extend Last Year’s Gains as S&P Warns of Global Supply DeficitJan 09, 2026Related TopicsbudgetMcCarthypresident joe biden
