Biden budget cliff notes: Quick look at president’s budget plan and impact on federal deficit

Biden budget cliff notes: Visualizing 2024 allocation, deficit impact


Federal budgets

The White House released President Joe Biden’s $6.9 trillion budget proposal Thursday, a plan for 2024 that includes tax increases for wealthy Americans and a goal to reduce the federal deficit by nearly $3 trillion by 2033.

The proposal previewed issues that Biden will probably emphasize during his his reelection bid in 2024. The president has not yet announced his candidacy but is expected to do so, perhaps by spring.

Biden said the budget would aid working people by asking the wealthy and corporations to “begin to pay their fair share.”

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