Today, President Biden will travel to a union hall in Philadelphia to tout his 2024 fiscal year budget proposal. Follow along for live updates.
President Biden will travel to a union hall in Philadelphia to tout his 2024 fiscal year budget proposal. With Republicans in control of the House, what Congress enacts is likely to look very different. But the document Biden presents will detail his priorities on education, health care and a host of other key issues and provide a preview of what he would run on in a 2024 reelection bid.
The White House estimates that Biden’s budget would cut the deficit by nearly $3 trillion over 10 years through savings and tax increases such as raising Medicare taxes on households earning more than $400,000, creating a new minimum tax on billionaires and raising the corporate tax rate to 28 percent. More details are expected to be released ahead of Biden’s speech.
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