Joe Biden’s proposed budget to trim US$1 trillion from deficits over next decade

President Joe Biden intends to propose a spending plan for the 2023 budget year that would cut projected deficits by more than US$1 trillion over the next decade and propose a minimum tax on billionaires, according to a fact sheet released on Saturday by the White House budget office.In his proposal expected on Monday, the lower deficits reflect the economy’s resurgence as the United States emerges from the pandemic, as well as likely tax law changes that would raise more than enough revenue to…


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