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The proposal includes a plan to raise taxes on the wealthiest Americans and corporations, and would require billionaires to pay at least 25% of income in taxes. This increase would also apply to corporations with high profits and instances of low taxes. Under the proposal, the national debt would climb"to a high of 106 percent of GDP by 2030... In nominal dollars, debt would grow by $17.7 trillion, from $27.4 trillion today to $45.
President Joe Biden's proposed 2025 budget includes some perks for millions of families and low-income workers as well as senior citizens, including reviving a program that lifted millions of children out of poverty during the pandemic.
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