President Biden releases proposed federal budget for fiscal year 2024 | LiveNOW from FOX
March 9, 2023
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52:43Now PlayingPresident Biden releases proposed federal budget for fiscal year 2024 | LiveNOW from FOX
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as posted by the channelPresident Joe Biden released his budget on Thursday, vowing to cut $3 trillion from the federal deficit over the next decade, in part, by levying a 25% minimum tax on the wealthiest Americans.
Biden also raises more revenue by increasing taxes on oil and gas companies, hiking the corporate tax rate to 28%, up from 21% imposed under former President Donald Trump but below the 35% tax pre-2017, and allowing Medicare to negotiate drug prices.
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