President Biden’s Billionaire Minimum Income Tax

March 28, 2022

The President’s annual budget request to Congress is more than a funding wishlist—it is, in President Biden’s words, “a statement of values.” The budget indicates which policy changes are high on the White House’s to-do list. It also offers guidance to Congress as members craft spending bills for the upcoming year and can help Congress determine which bills will take priority on the legislative calendar. 

Below are just a few of the policies highlighted in the Fiscal Year (FY) 2023 White House budget, which puts an emphasis on fairer taxes for billionaires and corporations, combatting the climate crisis and protecting our communities, and lowering costs for families. Neither the spending levels proposed nor the policies noted in the President’s budget have the force of law: it is incumbent upon Congress to pass legislation enacting those spending levels and policies.