Proposing new social services and higher taxes on the wealthy, the plan also includes $1 trillion in military spending.
President Joe Biden waves to supporters after speaking at an event about lowering costs for American families at the Granite YMCA Allard Center of Goffstown on March 11, 2024, in Goffstown, New Hampshire.President Joe Biden waves to supporters after speaking at an event about lowering costs for American families at the Granite YMCA Allard Center of Goffstown on March 11, 2024, in Goffstown, New Hampshire.
After being hammered by Republicans for months over inflation, Biden says his top domestic priority is bringing down the costs of higher education, health care, child care and housing. The White House claims the president’s budget is designed to do just with broad proposals for new social spending and infrastructure investment, all while saving middle- and lower-income taxpayers $765 billion over the next 10 years.
“ enacted a $2 trillion tax cut that overwhelmingly benefited the top one half of 1 percent and the biggest corporations and exploded the federal deficit,” Biden said. “He added more to the national debt in the four years he was there than any presidential term in history.” Biden has repeatedly promised not to raise taxes on households making less than $400,000 a year and is expected to promote a “fair tax code” on the campaign trail while painting Republicans as working on behalf of the wealthy.
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