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 ArticlesHouse Approves Bid to End Trump’s Tariffs on CanadaFeb 11, 2026Kraft Heinz Pauses Split as New CEO Says Packaged Foods Giant Is ‘Fixable’Feb 11, 2026US Economy Adds 130,000 New Jobs, Unemployment Rate Dips to 4.3 PercentFeb 11, 2026Crypto Winter Pushes Bitcoin Into Bear MarketFeb 10, 2026Related TopicsbudgetMcCarthypresident joe biden
