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 ArticlesWall Street Bonuses Hit 4-Year High, Analysis ShowsNov 06, 2025White House Has Backup Options If Supreme Court Blocks Trump’s Global TariffsNov 06, 2025October Layoffs Reach Highest Level for the Month in 22 Years: ChallengerNov 06, 2025US Household Debt Reaches Fresh Record High of $18.59 Trillion: New York FedNov 05, 2025Related TopicsbudgetMcCarthypresident joe biden
