White House Committing to Raising Taxes in Biden’s Forthcoming Budget: Press Secretary

Contact Your Elected Officials
The Epoch Times Header

Republicans criticize administration’s proposal for ‘massive tax increases’

The Biden administration is committed to raising taxes for wealthy Americans as President Joe Biden is slated to propose his budget on March 9, according to White House press secretary Karine Jean-Pierre.

Speaking to reporters on March 8, Jean-Pierre said Biden’s budget is aimed at cutting the federal deficit by $3 trillion over the next decade and noted that it would propose “tax reforms to ensure the wealthy and large corporations pay their fair share while cutting wasteful spending on special interests like Big Oil and Big Pharma.”

She also criticized the Trump administration’s focus on tax cuts by putting forward “a really irresponsible piece of legislation that gave tax breaks to the wealthy, especially millionaires and billionaires.”

“That is something that we have had to deal with, and we really have to call out,” Jean-Pierre said.

The press secretary was likely referring to the 2017 Tax Cut and Jobs Act, which slashed taxes for individuals and businesses, increased the standard deduction and family tax credits, reduced the Affordable Care Act’s individual mandate penalty to zero, and cut corporate rates to 21 percent. Some congressional Republicans have said that they want to keep those cuts.

During the press briefing, Jean-Pierre didn’t go into specifics about Biden’s proposed budget. However, she said the budget is designed to “[make] the wealthy and big corporations pay their fair share.”

Her comments came in response to questions about the proposal that Biden unveiled on March 7 that would increase the Medicare tax rate to 5 percent from 3.8 percent for households that earn $400,000 or more each year. That tax increase would apply to both “earned and unearned income” that totals more than $400,000.

“Since Medicare was passed, income and wealth inequality in the United States have increased dramatically. By asking those with the highest incomes to contribute modestly more, we can keep the Medicare program strong for decades to come,” the White House stated on March 7.

By Jack Phillips

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Katie Porter Syndrome: Toxic Feminism 101

“Katie Porter Syndrome” is a pathology inflicted upon Congressional staffers, the media, and, if the patient gets herself elected governor, all of CA.

The Unique European Social Contract: Effectiveness Over Values

American conservatives often ground their political stances on social issues. The European conversation centers on an effectiveness assessment.

Trump’s Middle East Triumph is Worth Celebrating Even As Peace Remains Elusive 

President Trump’s bold foreign policy defies globalist appeasement, showcasing unwavering American strength and decisive leadership on the world stage.

Are conservatives fighting a fiction of woke?

Wokery, it hurts to say it, is too disorganized to have an organized cosmology or doctrine of metaphysical belief.

Illinois Democrat Offenders Reveal Party

The crime of J.B Pritzker and Brandon Johnson in this episode of American history is called subversion at the least , but could be as serious as treason.

Katie Porter Syndrome: Toxic Feminism 101

“Katie Porter Syndrome” is a pathology inflicted upon Congressional staffers, the media, and, if the patient gets herself elected governor, all of CA.

Biden Undergoing Radiation, Hormone Treatment for Prostate Cancer

Former President Biden has begun receiving a combination of radiation and hormone treatments for prostate cancer, spokesperson announced.

Gaza Citizens Begin Returning Home Amid Cease-Fire

Palestinians began returning to their homes on Oct. 11 as the cease-fire between Israel and terror group Hamas got underway.

Homan Says DOJ Probing Funding Behind ‘Organized’ Attacks on ICE

Border czar, Homan said DOJ launched an investigation into funding for what he called “organized” attacks on federal immigration enforcement agents.

First Lady’s Effort Helped Reunite 8 War-Displaced Children With Their Families

First lady Melania Trump said 8 children impacted by the fighting between Ukraine and Russia were reunited with their families on Oct. 9.

Trump Admin Agrees to $20 Billion Rescue Plan for Argentina

The U.S. government has finalized a $20 billion economic rescue plan for Argentina, Treasury Secretary Scott Bessent announced on Oct. 9.

Trump Says He May Invoke Insurrection Act in Portland If Necessary

President Donald Trump on Oct. 6 said he may consider invoking the Insurrection Act in Portland, Oregon, if necessary.

Trump: All Medium, Heavy Duty Trucks Entering US Will See 25 Percent Tariff on Nov. 1

President Trump announced on Monday that all medium and heavy-duty trucks entering the United States will see a 25 percent tariff starting on Nov. 1.
spot_img

Related Articles

Popular Categories

MAGA Business Central