FeaturedBiden’s Budget Proposes Trillions in Tax Hikes, Partly Repeals Trump’s Tax Cuts00CopyFacebookXTruthGettrLinkedInTelegramEmailSavePrintPresident 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 ArticlesWorld’s Billionaire Population Surges to New Record High: UBSDec 04, 2025US Planned Layoffs Decline 53 Percent in November: ChallengerDec 04, 2025US Weekly Jobless Claims Fall to Lowest Level Since September 2022Dec 04, 2025Trade Price Pressures Pause as Import, Export Costs Unchanged in SeptemberDec 03, 2025Related TopicsbudgetMcCarthypresident joe biden
