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 Consumer Sentiment Deteriorates, Inflation Outlook Holds Steady: UMichSep 12, 2025Dow Jones Closes Above 46,000 for 1st Time as Wall Street Bets on Rate CutsSep 11, 2025US Weekly Jobless Claims Climb to Highest Level Since October 2021Sep 11, 2025US Annual Inflation Rises to 2.9 Percent, Driven by Food, Shelter CostsSep 11, 2025Related TopicsbudgetMcCarthypresident joe biden
