Biden Proposes $7.3 Trillion Budget for 2025 With Massive Tax Hikes for Corporations and Billionaires

President Joe Biden on March 11 released his $7.3 trillion budget for fiscal year 2025 that calls for significant tax increases for the wealthy and corporations. It features cost-cutting measures for families, building affordable housing, and investing in American manufacturing in line with previous years. It also includes funding for the administration’s equity initiatives across the U.S. government. Biden’s budget proposal would reduce the federal deficit by nearly $3 trillion over the next decade, in line with the deficit reduction proposed by the president last year. Here are a few highlights from the budget proposal for the fiscal year starting in October:...