Biden's Budget Would Cut Deficits by $3 Trillion Over 10 Years, Raise Taxes on Businesses

Contributing sentiments towards policy:

56% : The proposal would expand on a provision in the climate, healthcare and tax legislation that Mr. Biden signed last year that empowers Medicare to negotiate how much it pays for certain high-price prescription drugs.
55% : It will also offer a starting position for Democrats as lawmakers begin hashing out their visions for government spending before the fiscal year ends Sept. 30.
52% : As he has before, Mr. Biden will propose raising the top individual tax rate to 39.6% from 37%, raising the corporate tax rate to 28% from 21%, taxing top earners' capital gains at higher rates and increasing taxes on U.S. companies' foreign profits.
51% :GOP leaders have said they won't seek cuts to Medicare or Social Security.
47% : For instance, the budget is expected to include a plan to impose minimum taxes on very wealthy Americans, who often pay little in taxes if they don't sell their investments and realize income.
43% : If lawmakers take raising taxes and cutting Medicare, Social Security, defense and veterans programs off the table, Congress would need to cut 85% of spending in all other categories to balance the budget in 10 years, according to the Committee for a Responsible Federal Budget, a nonpartisan group that advocates for reducing federal deficits.
43% : The president will also propose raising taxes on wealthier people and corporations to help pay for his proposals, reviving ideas that didn't become law while Democrats controlled the House and Senate.
40% : He is expected to ask for more in defense spending than he requested last year and propose drug-policy changes and efforts to cut fraud and waste that the White House said would save hundreds of billions of dollars.
30% : He has pledged not to cut Social Security or Medicare, upon which many older Americans rely, and has said that GOP proposals could threaten Social Security, Medicare and Medicaid.

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