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President Joe Biden is proposing a huge increase in fuel taxes for private jets, which his administration is pitching as a fairness issue compared with airline passengers, who pay special taxes on every ticket.
The budget that President Biden released on Monday projects to cut deficits by $3 trillion over a decade, and it does so with an approach that has become familiar: tax increases for companies and the wealthy.
President Joe Biden is issuing a budget plan Monday aimed at getting voters’ attention: tax breaks for families, lower healthcare costs, smaller deficits and higher taxes on the wealthy and corporations.
President Joe Biden's 2025 funding proposal set to be released Monday will repackage his tax hike proposals on billionaires and corporations and many other requests from his 2024 budget, which is still under negotiation on Capitol Hill halfway into the fiscal year. Like all presidential budgets, Biden's 2025 plan is more of a wish list than it is a policy document. This year, as the president faces a likely general election rematch against Donald Trump in November, his budget is also a statement of the Biden campaign's economic platform. According to the White House, the budget aims to reduce the federal deficit by $3 trillion over the next 10 years largely by imposing a minimum 25% tax rate on the unrealized income of the very wealthiest households and by reshaping the corporate tax code. Biden will also seek to shore up Medicare and
CHARLESTON, W.Va. (AP) — West Virginia’s Republican-dominated state Legislature on Saturday concluded a 60-day session marked by budget disputes and controversial social issue bills that advanced but ultimately didn’t go anywhere.
Saskatchewan's decision to violate federal law by not remitting the carbon tax on home heating kicked off a war of words with a federal cabinet minister this week, but that wasn't the only spat the premier and his cabinet had to deal with.
Federal prosecutors on Friday filed their opposition to efforts by Hunter Biden’s attorneys to dismiss tax-related charges filed against the president's son last year.
WASHINGTON (AP) — President Joe Biden is going into Thursday’s State of the Union address with an expanded plan to raise corporate taxes and use the proceeds to trim budget deficits and cut taxes for the middle class.