Today, Afterwards Presenting his budget for the financial year 2024, President Biden said the onus is on House Speaker Kevin McCarthy (R-Calif.) to lay out his plan so the two can go “line by line” to see what they can agree on. “I’m open to meeting with the speaker at any time,” Biden said while outlining his priorities on education, health care and other issues at a union hall in Philadelphia.
The White House estimates Biden’s budget will cut the deficit by nearly $3 trillion over 10 years through savings and tax increases, such as raising the Medicare tax on households making more than $400,000, creating a new minimum tax on billionaires and raising the corporate tax rate to 28. Percent.