Biden unveils $6T 2022 budget that includes costly pandemic recovery, jobs plans
On Location: May 28, 2021
Replay Video UP NEXT President Joe Biden on Friday unveiled a $6 trillion budget proposal for fiscal year 2022, which includes his costly initiatives already announced, including the American Jobs Plan and American Families Plan. It also includes his proposal to raise the corporate tax rate to 28% and increase the capital gains tax on the wealthiest Americans to 39.6%, but it still runs a deficit of $1.8 trillion for FY 2022 and continues to run trillion-dollar deficits yearly over the next decade. Shalanda Young, acting director of the Office of Management and Budget, said that after 2030, the budget policies will then start to reduce annual deficits, speaking on a call with reporters.
President Biden unveils $6 trillion budget for next year
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President Biden s budget proposal expected to increase the federal debt
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President Biden unveils $6 trillion budget for next year
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