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 Annual Inflation Ticks Up to 3 Percent for First Time Since JanuaryOct 24, 2025Lockheed Martin, NioCorp to Partner in Pentagon-Funded Scandium ProjectOct 23, 2025Prominent Personalities Sign Letter Seeking Ban on ‘Development of Superintelligence’Oct 23, 2025US Corporate Earnings Signal Economy Is Holding SteadyOct 23, 2025Related TopicsbudgetMcCarthypresident joe biden
