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flag President Biden proposes $7.3tn budget for 2025.

flag President Joe Biden's proposed budget for fiscal year 2025 includes significant tax increases for corporations and the wealthy, aiming to reduce the federal deficit by nearly $3 trillion over the next decade. flag Key tax proposals include a 25% minimum tax on households earning more than $100 million, partially repealing former President Donald Trump's tax cuts, raising the top individual tax rate to 39.6% from 37%, and the corporate tax rate to 28% from 21%. flag Biden's budget proposal also includes cost-cutting measures for families, affordable housing, American manufacturing, and investment in equity initiatives.

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