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 ArticlesForeclosure Activity Rises Across US Housing Market, New Data ShowNov 13, 2025Release of Key October CPI, Jobs Data Impacted by Shutdown: White HouseNov 13, 2025Atlanta Fed President Raphael Bostic to Retire When Term Expires in FebruaryNov 12, 2025Trump Admin Considering ‘Portable Mortgages’: Top US Housing RegulatorNov 12, 2025Related TopicsbudgetMcCarthypresident joe biden
