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 ArticlesTrump Says Fed Chair Candidate Waller Is ‘Great’ After InterviewDec 18, 2025Trump Leans Into Affordability Pitch in Primetime as Inflation CoolsDec 18, 2025Weekly Jobless Claims Decline as US Labor Market StabilizesDec 18, 2025Inflation Cools to 2.7 Percent in November, Lower Than ExpectedDec 18, 2025Related TopicsbudgetMcCarthypresident joe biden
