Biden Budget Proposal Aims To Reduce Deficit By... Page

President Biden's Fiscal Year 2025 budget proposal aims to reduce the federal deficit by approximately $3 trillion over the next decade through tax increases on corporations and high-income individuals. The plan includes a 25% minimum tax on billionaires, a higher corporate tax rate, and expanded drug price negotiations, though it faces an uphill path in a divided Congress. For a detailed breakdown of the proposals, read the analysis at CRFB .

Breaking Down the Proposals in the President's FY 2025 Budget