Proposal for fiscal 2025 would also lower healthcare costs and raise taxes on wealthy and corporations if he wins in November
President Joe Biden is issuing a budget plan Monday aimed at getting voters’ attention: tax breaks for families, lower healthcare 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.