President Joe Biden is issuing a budget plan Monday aimed at getting voters' attention: tax breaks for families, lower health care costs, smaller deficits and higher taxes on the wealthy and corporations. Unlikely to pass the House and Senate to become law, the proposal for fiscal 2025 is an election-year blueprint about what the future could hold if Biden and enough of his fellow Democrats win in November.
President Joe Biden is issuing a budget plan Monday aimed at getting voters' attention: tax breaks for families, lower health care costs , smaller deficits and higher taxes on the wealthy and corporations. Unlikely to pass the House and Senate to become law, the proposal for fiscal 2025 is an election-year blueprint about what the future could hold if Biden and enough of his fellow Democrats win in November.
The president and his aides previewed parts of his budget going into last week's State of the Union address, with plans to provide the fine print on Monday. If the Biden budget became law, deficits could be pruned $3 trillion over a decade. Parents could get an increased child tax credit. Homebuyers could get a tax credit worth $9,600. Corporate taxes would jump upward, while billionaires would be charged a minimum tax of 25%. President Biden also wants Medicare to have the ability to negotiate prices on 500 prescription drugs, which could save $200 billion over 10 year
President Biden Budget Plan Tax Breaks Health Care Costs Deficits Taxes Wealthy Corporations Fiscal 2025 Election-Year Blueprint Democrats State Of The Union Child Tax Credit Homebuyers Corporate Taxes Billionaires Medicare Prescription Drugs
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