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
states hits today and that is the legal limit. if congress does not raise that limit, the country risks default which would have almost unmanageable consequences. now the treasury department is taking what are called extraordinary measures to push that date back a bit. but they can t do it forever. this morning cnn has also learned that president biden still plans to announce he is running for re-election. he does plan to announce that bid after the state of union address next month. those are the plans that are in place. there are new details this morning about how this special counsel investigation into classified documents at his home and office may have impacted that timing. and embattled new york congressman george santos wrapped in yet another lie as newly uncovered documents contradict his claims that his own mother was in the south tower on 9/11. just the latest in his string of lie lies. but we begin with the u.s. hitting the trillion dollars borrowing limit. laure
not done yet the same weather system that brought a drenching thousand-year storm to the dallas area this week now threatening the same in the southeast. pummeling central and southern mississippi with near historic rain amounts, since this morning 6 to 12 inches have fallen across the area, triggering dangerous flash floods, cutting off neighborhoods and requiring evacuations, including dozens of residents escorted from an assisted living facility tonight some 5 million people across the southeast are under flood watches. blayne alexander reports. reporter: tonight in parts of central mississippi, the scenes are dire a desperate evacuation, dozens of elderly residents rushed from a nursing home as floodwaters rush in. we did have full saturation of the ground, so we knew we might have some flash flooding. reporter: so far more than 100 rescues across central mississippi, including this day care center in florence where dozens of children and employees were rushed to sa