"Biden's 2024 State of the Union: Focus on Tax Policy and Economic Agenda"

President Joe Biden plans to unveil tax proposals targeting wealthy Americans and large companies in his State of the Union address, including hiking corporate minimum taxes, curbing executive pay and corporate jet deductions, and imposing a 25% minimum tax on income for those with wealth over $100 million. These measures are part of a proposed fiscal 2025 budget aiming to decrease the federal deficit by $3 trillion over 10 years while cutting taxes for low-income Americans. The tax plans are expected to be a central theme in Biden's re-election campaign, setting up a contrast with the 2017 tax cuts signed by former President Donald Trump.