Bidenâs $6T budget proposal: Social spending, taxes on business
By Andrew Taylor
WASHINGTON - President Joe Biden on Friday unveiled a $6 trillion budget for next year that's piled high with new safety net programs for the poor and middle class, but his generosity depends on taxing corporations and the wealthy to keep the nation's spiking debt from spiraling totally out of control.
Biden has already described, in general terms, major plans on infrastructure and he won a major victory on COVID-19 relief earlier this year. But Friday's rollout tallies up the costs and incorporates them into the government's existing budget framework, including Social Security and Medicare, to provide a fuller view of the administration's fiscal posture.