UPDATE: President Biden unveiled his proposed federal budget during an appearance in Philadelphia on Thursday. Laurenjmayk has the details.
President Joe Biden unveiled his proposed federal budget, that largely revolves around the idea of taxing the wealthy to help fund programs for the middle class, older adults and families.
The first-term Democrat is proposing to cut deficits by nearly $3 trillion over the next decade. It’s part of a broader attempt by the president to call out House Republicans, who are demanding severe cuts to the federal spending in return for increasing the government’s legal borrowing authority. It's part of a broader attempt by the president to call out House Republicans, who are demanding severe cuts to federal spending in return for lifting the government's legal borrowing limit. But the GOP has so far, other than a flat “no” to a budget plan that could form the policy spine of Biden's yet-to-be-declared campaign for reelection in 2024.
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