Biden is issuing a budget plan that details his vision for a second term
President Joe Biden is issuing a budget proposal Monday aimed at getting voters’ attention
By JOSH BOAK and COLLEEN LONG
Published - Mar 11, 2024, 05:10 AM ET
Last Updated - Mar 11, 2024, 05:10 AM EDT
WASHINGTON (AP) — 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.
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%.
Biden also wants Medicare to have the ability to negotiate prices on 500 prescription drugs, which could save $200 billion over 10 years.
