BREAKING: Biden proposes $6.8 trillion budget to make rich pay 'fair share'
is detailing his plans to increase taxes on the wealthiest Americans and corporations in his Fiscal Year 2024 budget to help fund $6.8 trillion in spending next year.Biden's plan, which has little chance of being enacted by Congress, amounts to the clearest distillation of his political priorities as he prepares to mount a re-election campaign by running against congressional Republicans.
For domestic programs, a traditional top priority for Democrats, he's asking for even more, proposing some $1 trillion for so-called non-defense discretionary spending. For Americans with unearned income above $400,000, the Medicare tax rate would jump from 3.8% to 5%, which Biden says will extend the program's solvency by 25 years.
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