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President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3 trillion over the next decade through higher taxes on the wealthy and large corporations. Here’s what you should know about Biden’s budget request: Why it matters: “The proposal includes only relatively small changes from the budget plan Mr. Biden submitted last year,” writes Jim Tankersley of The New York

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