Biden’s Budget Aims To Slash US Deficit By $3 Trillion Next Decade Through Higher Taxes On Wealthy, Big Corporations

The U.S. President’s Budget, released on Monday, sets an ambitious target to significantly curb the vast federal deficit, proposing a cumulative reduction of about $3 trillion compared to projections by the Congressional Budget Office (CBO). Central to achieving this reduction are higher taxes on major corporations and the wealthiest individuals, reallocating these funds to make health care, child care and housing more affordable for American families. Key Highlights From The President’s Budget:Minimum Tax Increase For Top 0.01%: The Budget seeks to increase the minimum tax rate from 8% to 25%…