What to know about Joe Biden’s proposed budget

Hey OnPolitics readers! President Joe Biden released a budget proposal Monday that carves out new programs for housing and health care. It would also reduce the deficit by $3 trillion over the next decade by raising taxes on corporations and the wealthiest Americans.

Although the budget has no chance of advancing in the Republican-controlled House of Representatives, it establishes Biden’s priorities for his campaign and creates contrasts for an election rematch against Republican frontrunner Donald Trump, USA TODAY’s Joey Garrison and Michael Collins reported. 

Here’s what’s in Biden’s budget:

✔️ Protecting Medicare and Social Security: Biden, who regularly accuses Republicans of wanting to slash Medicare and Social Security, called for bolstering spending for both entitlement programs in his budget.

Prep for the polls: See who is running for president and compare where they stand on key issues in our Voter Guide

Prep for the polls: See who is running for president and compare where they stand on key issues in our Voter Guide

⬆️ Tax hikes on corporations and billionaires: Biden’s budget proposes tax hikes on billionaires and corporations that would raise tax receipts by $4.9 trillion over the next 10 years.

💸 Billions for border security: The proposed budget includes $405 million to hire 1,300 additional Border Patrol agents and $239 million for 1,000 additional Customs and Border Protection officers in an effort to stop fentanyl and other contraband from entering the country.

Read more:Taxing the rich to cut deficit: Five takeaways from President Biden’s proposed budget

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Prep for the polls: See who is running for president and compare where they stand on key issues in our Voter Guide

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