US-Iran war CJP protest in Delhi US-Saudi nuclear deal Commonwealth Games 2026 Wildfires in Europe

Biden pitches billionaires, corporate tax hikes in budget

President Joe Biden presented Thursday what amounts to his 2024 reelection pitch on the US economy, with a proposed budget targeting the rich with new taxes, while promising to assist the country’s “working families.”

|Mar 09, 2023, 23:57:49 IST

Washington: President Joe Biden on Thursday proposed a minimum tax on billionaires and an almost tripling of corporate taxes as part of a revenue overhaul in his proposed new budget, which is certain to be rejected by Republicans in Congress.

The White House said Biden wants a minimum 25 percent tax on the wealthiest few Americans. The corporate tax would increase significantly to 28 percent, reversing a huge tax cut enacted under president Donald Trump in 2017, the White House said.

President Biden presented Thursday what amounts to his 2024 reelection pitch on the US economy, with a proposed budget targeting the rich with new taxes, while promising to assist the country’s “working families.”

Read all the Latest News, Trending News, Cricket News, Bollywood News,

Fake jobs, tourist visas: Inside Russia’s vast network luring foreigners to fight Ukraine war

Russia is accused of using fake job offers, tourist visas and lucrative military contracts to recruit thousands of foreign nationals for the Ukraine war. Investigations reveal how poverty, deception and coercion have drawn people from Asia, Africa and Latin America into one of the world's deadliest conflicts

8 min read

As Pakistan eyes American dollar for Iran mediation, economists sound the alarm: ‘It can buy time, not growth’

Pakistan is reportedly seeking billions in US support after claiming a role in easing US-Iran tensions, but economists warn fresh funding would offer only temporary relief without deep structural economic reforms.

2 min read

Are Chinese UN peacekeepers spies? Trump’s UN envoy sends out a warning

US UN Envoy Mike Waltz has warned that China has been using United Nations' platforms, such as peacekeeping missions, for espionage. He accused Chinese peacekeepers of serving as the eyes and ears of the Communist Party of China.

2 min read

Why has Bangladesh’s choice of India spokespersons raised eyebrows?

Bangladesh’s appointment of journalists Md Saidur Rahman and Umme Marufa to media roles in New Delhi and Kolkata has triggered controversy over their past anti-India social media posts, many of which were later deleted, prompting diplomatic scrutiny as India and Bangladesh seek to improve bilateral ties

6 min read

Indian judo contender withdrawn from 2026 Commonwealth Games after failed dope test

India's contingent at the 2026 Commonwealth Games has been restricted to 124 after judoka Arun Kumar was withdrawn from the 2026 Commonwealth Games in Glasgow due to a failed dope test.

1 min read

Up Next