Joe Biden mulls tax hikes, testing his capacity to woo Republicans While the White House has rejected an outright wealth tax, its current thinking does target the wealthy 15 March 2021 - 10:54 Nancy Cook and Laura Davison US President Joe Biden walks over to members of the media on the South Lawn of the White House in Washington, the US, on March 14 2021. Picture: BLOOMBERG/UPI/MIKE THEILER Washington — President Joe Biden is planning the first major federal tax increase since 1993 to help pay for the long-term economic programme designed as a follow-up to his pandemic-relief bill, according to people familiar with the matter.