Likely Dead News Today : Breaking News, Live Updates & Top Stories | Vimarsana

President Biden's budget aims to cut deficits by $3 trillion through tax increases. It proposes $5 trillion in additional taxes on corporations and high earners, raising the corporate tax rate, denying deductions for executive pay, and implementing a wealth tax on billionaires.

The budget that President Biden released Monday projects to cut deficits by $3 trillion over a decade, and it does so with an approach that has become familiar: tax increases for companies and the wealthy.