making republicans show that they have no plan in response. plus, alarming suggestions tha the administration might b taking a right turn on immigration. and why are republicans so afraid to blame trump for th events of january 6th? i am julián castro, let s ge started. spring is right around the corner and joe biden i breaking out his gordon shares the president formally unveile his new budget proposal this week, aiming to cut the federa deficit by projected three trillion dollars over the next decade in part through a new 25% ta on billionaires. other provisions of the plan the corporate tax rate would increase from 21% to 28% there is an increase in capita gains taxes along with it, and to the interest loophole tax hikes and gas companies an acre tailing of covid relate spending now, to be clear, no one in th white house is saying that republican controlled houses will actually adopt presiden biden s budget and its current form, there will be plenty o wrangling and negoti
events of january 6th? i a julián castro, let s ge started. spring is right aroun the corner and joe biden i breaking out his garden shears the president formally unveile his new budget proposal this week, aiming to cut the federa deficit by projected three trillion dollars over the next decade. in part through a ne 25% tax on billionaires. other provisions of the plan, th corporate tax rate would increase from 21% to 28%. ther is an increase in capital gain taxes along with it, and to th interest loophole. tax heights for oil and gas companies, and a curtail of covid related spending now, to be clear, no one in th white house is saying that republican controlled houses will actually adopt presiden biden s budget and its current form, there will be plenty o wrangling and negotiation in the weeks to come. so wh doesn t matter? the budget proposal is a sign of th presidents priorities, who h wants to help, and what he wants to accomplish with the rest of his term. in effect, i
political fight, because it is going to be a consequentia one. the wrapping up to a big deb ceiling battle it was written in the new york times that republicans, quote, claim to believe that rising federal that is a major crisis but if they really believe tha they would be willing to accep at least some pain, except som policies that they dislike take on popular spending programs in the name of defici reduction, do you see any of that happening what the republicans know but they do not like to admi is that 25% of all of the debt we have ever incurred as a country was born on donald trump s watch. and, i don t, maybe i am naive i do not think that they wan to blow up the economy but the believe that they have a hostage and folks are going to flinch if they take th hostage. i sometimes regret that we get
gotcha hearings, saying that somehow, i don t know, learnin about our history is bad, or allowing free markets to allocate free capital is a bad thing, which is essentiall what this whole anti movemen is. so i guess that we are looking better because we ar the adults in the room, bu there are real people who have real needs that we should be focused on. and i think that i is people who care about thi job, and care about this country, and they ar disappointed the republicans are not taking it seriously. you make a good point about the substance that behind thes numbers there are people s lives, and how they ar affected, and every time i hea the president talk about the child tax credit, and that reducing child poverty in ou country by half during a tim where it is expanding, the meaningful-ness of that, i d want to ask you about anothe political fight, because it is going to be a consequentia one. the wrapping up to a bi debt ceiling battle. it wa written in the new york time that rep