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22:01Now PlayingWatch: President Biden signs executive order on childcare and caregiving
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22:01Now PlayingPresident Joe Biden is taking aim at rising child care and caregiving costs with executive action Tuesday that seeks progress in a White House priority that failed in Congress.
RELATEDPresident Joe Biden gives remarks on the state of the US economy
President Joe Biden released a federal budget that sets the stage for a reelection campaign, reviving plans to raise taxes on the wealthiest Americans and corporations to expand the government's social safety net and transform the economy.
Although the spending and tax hikes have no chance of passing the Republican-controlled House of Representatives, the 2024 budget proposal establishes Biden's priorities amid a standoff with congressional Republicans over raising the nation's debt ceiling to avert an economic crisis this summer. Biden called on Republicans to show which programs they want to cut as he unveiled proposals to extend the solvency of Medicare, fund national paid family leave, and subsidize child care and free community college for many low-income students.
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