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Biden Budget Request Revives Big Government With Higher Taxes

  • President seeks investments in climate change, safety net
  • Republicans say plan would boost interest rates, inflation
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Biden to Propose $6 Tillion Budget
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President Joe Biden issued his first full budget proposal Friday, detailing his ambitions to dramatically expand the size and scope of the federal government with more than $6 trillion in spending over the coming fiscal year.

Vast new spending would be paired with significant tax increases on corporations and the wealthy. But Congress controls the government’s purse strings, and with Republicans almost uniformly opposed to most of Biden’s spending and all of his tax increases, he and allied Democrats face difficulty enacting any of it into law.