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Biden's USD 6 Trillion Budget: Social Spending, Taxes on Business

US President Joe Biden, appearing briefly at the White House after news of the ceasefire agreement, also promised to replenish Israel's Iron Dome missile defense system, despite complaints from the Democratic left about a pending the United States arms sale to Israel. (Image: Reuters)

US President Joe Biden, appearing briefly at the White House after news of the ceasefire agreement, also promised to replenish Israel's Iron Dome missile defense system, despite complaints from the Democratic left about a pending the United States arms sale to Israel. (Image: Reuters)

The President's ambitious budget might unfold a series of taxation on corporations

President Joe Biden on Saturday unveiled a USD 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.

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first published:May 29, 2021, 07:24 IST