"Biden's Populist Budget Proposal: Tax Hikes, Corporate Taxes, and Economic Themes"
TL;DR Summary
President Joe Biden's 2025 budget proposal, set to be released, aims to reduce the federal deficit by $3 trillion over the next 10 years through tax hikes on the wealthiest households and reshaping the corporate tax code. The budget also includes plans to shore up Medicare and Social Security, and is seen as a statement of Biden's economic platform for his reelection campaign. Despite a deeply divided Congress, Biden is not diluting his progressive budget requests, and recent polls show a slight improvement in voter sentiments about his handling of the economy.
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