Biden Says ‘I’m Gonna Raise Some Taxes’ in Budget Proposal Speech

President Joe Biden discusses health care costs and access to affordable health care during an event in Virginia Beach, Va., on Feb. 28, 2023. Leah Millis/Reuters

President Biden revealed an aspect of his administration’s March 9 budget proposal to the U.S. Congress on Tuesday, saying there will be tax jumps for the rich.

Biden gave a speech in Virginia, saying his budget plan is to protect the Affordable Care Act and raise taxes on those earning $400,000 or more, saying that the number of American billionnaires has increased over the years.