"Biden's State of the Union Address: Tax Hikes, Allies' Pleas, and Economic Recollection"

President Joe Biden is set to propose significant tax increases for billionaires and corporate America as part of his economic agenda, aiming to fund his ambitious infrastructure and social spending plans. The proposed measures include raising the top income tax rate for individuals earning over $400,000, doubling the capital gains tax rate for those earning more than $1 million, and increasing the corporate tax rate. Biden's administration seeks to address economic inequality and generate revenue to support key initiatives, although the proposals are expected to face opposition from Republicans and some business groups.