Joe Biden, President of the United States, presented what could be the budget for the fiscal year 2023, where among other things a tax for the rich, and greater spending on defense are included.

In its 277-page proposal, the White House requests that Congress approve a budget of 5.79 billion dollars, compared to 5.85 billion in 2022. In total, the US government wants to allocate 813,000 million dollars to Defense , which represents an increase of 4 percent compared to fiscal year 2022, of which 31,000 million dollars would be for new spending.

The budget calls for a new “minimum billionaire tax“, which not only includes billionaires, but applies to anyone whose fortune exceeds $ 100 million, ensuring that the wealthiest 0.01 % of households pay at least “20 % of their total income in federal income taxes.”

The director of the White House Office of Management and Budget, Shalala Young, also stressed that the proposal shows that the US “is on track to reduce its deficit by more than 1.3 trillion dollars this year”.

Biden acknowledged that “some people don’t like the surge, but we’re in a different world today. America is more prosperous, more successful, and more just when it’s safer.”

K. Tovar

Source: Descifrado

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