President Biden has unveiled his 2025 budget plan, which includes significant tax reforms aimed at reducing the national deficit by $3 trillion over the next decade. The proposal, which was sent to Congress, seeks to impose higher taxes on the wealthiest Americans and large corporations, including a 25% tax on billionaires, and anticipates raising $4.951 trillion in tax receipts over 10 years. Specifically, the budget outlines $7.3 trillion in spending and proposes $5.5 trillion in tax hikes. It is designed to ensure that no one earning less than $400,000 per year pays a penny in new taxes and proposes tax breaks for families. Despite these measures, the budget is expected to face strong opposition, particularly from Republicans who control the House, making its passage unlikely this year. Critics argue that the budget's massive spending and tax hikes could further increase the national debt, which is projected to reach $45 trillion in a decade, and exacerbate inflation.
Biden unveils massive tax hikes on the rich as part of bid to cut deficit https://t.co/PhMU366gsD https://t.co/c2wH5KJqVy
Today, @POTUS laid out a budget proposal that builds on the progress of his Administration while continuing to be fiscally responsible with taxpayer dollars. I applaud this roadmap to empower our communities and grow our economy. Read my full statement: https://t.co/BRvEkYXGJS
In his budget, Pres. Biden includes $7.3 TRILLION in new spending. And his mentions of tackling historic inflation and securing the border? Crickets. Now is the time to rein in reckless spending—not saddle the American people with more debt and dependency. https://t.co/dQPasFBwuO
Biden's $7.3 Trillion Budget for FY25 will: ✖️Lower Defense Funding ✖️Raise our National Debt by $18.2 Trillion ✖️ Expand Bureaucracy & the scope of the Federal Government @HouseGOP is dedicated to reining in Biden's runaway spending & shrinking his bloated bureaucracy.
From last fiscal year (2023) to next fiscal year (2025), Biden proposes increasing spending by 15.6% to $7.3 trillion.
President Biden's budget will: ✅ Cut the deficit by $3 trillion ✅ Lower health care costs ✅ Build more affordable housing and much more... All while ensuring NO ONE earning less than $400,000 per year pays a penny in new taxes. https://t.co/FmTKYCUPFS
Today @POTUS released a budget that would further strengthen our economic recovery — investing in working families while protecting Social Security & Medicare, cutting the deficit & ensuring the ultra-wealthy pay their fair share. From the bottom up and the middle out.
.@POTUS’ budget lays out a vision for a nation that invests in all aspects of health, fosters innovation, and supports its most vulnerable. We hope that Congress will approve this budget. And we hope that everyone will continue to benefit from the support and care we provide. https://t.co/f9Yg3SOwHM
President Biden’s new budget is a blueprint for how to grow the middle class and invest in the American people, all while reducing the deficit and making sure the wealthiest pay their fair share. It will reduce costs, make our nation stronger, and continue the American comeback. https://t.co/INbgz1BeDu
Biden's unveils $7.3 TRILLION budget with massive tax hikes: "The highest sustained income tax burden in American history as a share of the economy" https://t.co/9ByxW14cq8 https://t.co/9ByxW14cq8
The White House unveiled a $7.3 trillion fiscal budget for the 2025 fiscal year, lasting from October 1st, 2024 to September 30th, 2025. In the document, he details massive spending toward services, tax breaks, credits for the middle class, and a slew of additional spending… https://t.co/eDVcGBDoEO
Joe Biden's idea of a budget: Add $500 BILLION dollars in reckless spending. That's not a budget. That's a recipe for economic disaster.
President Biden’s newly proposed budget is utter insanity. We can’t keep spending money we don’t have. How does he expect to pay for all this? Higher taxes or print more money? https://t.co/pvxwu5OXOK
President Biden’s $7.3 TRILLION proposed budget for FY25 – a radical Left wish list – will only further the decline of the American economy. The solution to burdensome inflation is NOT more spending. #FL02
.@POTUS' budget builds on the progress we’ve already made with more policies to: 1️⃣ Grow our economy, 2️⃣ lower everyday costs, 3️⃣ support working families, 4️⃣ protect Social Security & Medicare, 5️⃣ and reduce our deficit by making the wealthy pay their fair share.
Bidenomics damaged our nation's financial stability, and now the President's $7.3 trillion budget adds insult to injury. This budget proposes massive tax hikes to fund a radical wish list spearheaded by the far left. President Biden treats the taxpayers as though we are… https://t.co/Jx1OkT1PaJ
Biden’s new $7.3 trillion budget plan includes tax breaks for families — and hikes for corporations https://t.co/NpXjmMm8w6
Biden's FY25 budget request doubles down on the same reckless spending that has created record inflation. In no world can he say he's been "fiscally responsible."
Unsurprisingly, President Biden’s $7.3 trillion budget proposal for FY25 includes requests that will only increase our national debt beyond repair.
⚠️ BIDEN BUDGET PLAN WOULD RAISE US TAXES BY $4.951 TRILLION OVER DECADE -TREASURY Full Story → https://t.co/1PaFc9qgEs https://t.co/MbEt2D1wCw
President Biden just released a proposed $7.3 TRILLION budget. https://t.co/grAkHJxcvl That is a trillion more than we spent in 2023. Give Me a Break. It makes me nostalgic for the comparatively frugal Biden of 2020: https://t.co/1Z16oXlMd6
President Biden's budget spends too much, taxes too much, and has our nation on an unsustainable path toward unprecedented debt. It’s long past time we get our fiscal house in order, and unfortunately, the president’s budget request does the opposite.
.@wsj: Biden Budget Seeks More Aid for Families, Higher Taxes on Wealthy Households, Corporations https://t.co/HxXpUrHBgU
President Biden’s 2025 budget is a slap in the face to hard working families. It includes: - $5.5 trillion in tax increases - $16 trillion in new debt There is a better way, and it starts with reining in the tax-and-spend addiction. https://t.co/MlQY99eyzK
President Biden just unveiled his $7.3 TRILLION spending plan for FY25 — the largest budget proposal in U.S. history. It is immoral to burden our kids and grandchildren with this out of control spending & debt.
To nobody's surprise, the President's $7.3 TRILLION budget proposal for FY 25 would make our national debt reach $45 TRILLION in the next decade. At a time when we desperately need fiscal responsibility, the President wants to haphazardly spend this country into oblivion.
My statement on Biden’s $7.3 trillion Fiscal Year 2025 budget: https://t.co/FDqvkwgHc7
.@POTUS’ budget represents a nation where no one gets left behind & everyone has a fair shot. From making generational investments to move our country forward to protecting Social Security & Medicare, this is a budget that works for the American people.⤵️ https://t.co/7FQRVWzElg
.@POTUS’ budget represents a nation where no one gets left behind & everyone has a fair shot. From making generational investments to move our country forward to protecting Social Security & Medicare, this is a budget that works for the American people.➡️https://t.co/jAHDz3Yezl
President Biden’s $7.3-trillion budget would raise taxes to the tune of $5.5 trillion & balloon our national debt to $45 trillion in a decade. We can’t continue to print money out of thin air, borrow money we can’t afford & spend money we don’t have. It’s a recipe for disaster.
President Biden’s new budget would increase the national debt to $45.1 trillion dollars by 2034. Failure doesn’t come cheap!
President Biden's FY25 budget will: ✅ Cut the deficit by $3 trillion ✅ Lower health care costs ✅ Build more affordable housing and much more... All while ensuring NO ONE earning less than $400,000 per year pays a penny in new taxes.
President Joe Biden’s budget proposal — which calls for sweeping tax increases on corporations and the wealthy — is the opening round of a looming tax fight set to consume Washington next year. https://t.co/Qla9CINSIc
🔴 US TREASURY REVENUE GREEN BOOK: THE BIDEN FY 2025 BUDGET PLAN WOULD RAISE TAX RECEIPTS BY $4.951 TRILLION OVER 10 YEARS.
🔴 TREASURY ESTIMATES BIDEN TAX PROPOSALS FOR WEALTHY INDIVIDUALS WOULD RAISE $1.834 TRILLION OVER 10 YEARS.
President Biden's proposed budget further shows that he's economically illiterate. With our national debt rapidly increasing and hardworking Americans suffering from record-high inflation, spending trillions more is reckless and further steers our nation in the wrong direction.…
Biden's $7.3 TRILLION budget outlines his plan to "finish the job" of destroying the country: ❌ $5.5 trillion in tax hikes — increasing from roughly 18% of GDP to 20%+ — even after the IRS collected a record $4.9 trillion in tax revenue last fiscal year. ❌ Massive corporate…
Biden unveils at 7.3 Trillion dollar budget with 5.5 trillion in tax hikes. But sure, keep voting for this madness.
*BIDEN PROPOSES $7.3 TRILLION BUDGET FOR FISCAL YEAR 2025 We literally can’t afford the government we currently have and they just keep trying to make it bigger. Runaway debt train. https://t.co/4KjywV4Rx6
I could not agree more ⬇️ Our country is $34.4 TRILLION in debt & Biden has the audacity to present us with a $7.3 TRILLION budget? DC is addicted to spending $ we don't have & this budget doubles down on this. Just as said below: Biden's budget is a roadmap to accelerate… https://t.co/fD5xNssPTr
Biden's FY25 "budget" adds another $8 TRILLION to our debt over the next five years alone! This isn't a budget. It's another reckless tax and spending spree packed with this admin's political wish list, bad policies and no solutions to save Social Security. See for yourself ⬇️ https://t.co/uy1mTnuEA8
.@POTUS’s budget presents a vision for a thriving future for our country. It invests in the American people and in American ingenuity and innovation—and it puts working people and middle-class families first. https://t.co/8cCDsO1cdn
President Biden releases an annual budget aimed at appealing to voters who are sour on the economy with $7.266 trillion in funding proposals that are primarily aspirational https://t.co/toRqlQZL7v
White House unveils $7.3 trillion tax-and-spend budget for 2025 https://t.co/SRFUOq1S1y
President Biden's proposed budget for FY 2025 is an affront to the American people. More spending. Tax hikes. Increased national debt. All of this stuff worsens our country.
Biden’s $7.3 Tln Budget Sets Spending, Tax Fight With Trump - @business https://t.co/VEdPCNb5uI
Biden's Budget Cuts The Deficit By $3 Trillion Over 10 Years https://t.co/XzElbhWhH0
YIKES: White House unveils $7.3 trillion tax-and-spend budget for 2025 https://t.co/5pNpI3NOxy
❖ BIDEN BUDGET SEES US DEBT HITTING $45 TRILLION IN A DECADE
If the Biden budget became law, deficits could be pruned $3 trillion over a decade. https://t.co/1qxgmOpM1h
President Biden’s 2025 budget proposal includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on the rich and corporations. It stands almost no chance of becoming law this year, given that Republicans control the House. https://t.co/mbrar7f7bo
Biden's budget, out later today, will propose tax breaks for families and push for tax increases for the wealthiest Americans. https://t.co/WKz34AE3u7
Biden unveils massive tax hikes on the rich as part of bid to cut $3trillion of the deficit in 10 years: President's budget to include 25% tax on billionaires after warning in State of the Union the wealthy will 'pay their fair share' https://t.co/oS2cSq5LKL https://t.co/LyeNCF3eay
Biden unveils massive tax hikes on the rich as part of bid to cut deficit https://t.co/kXfl0JFZYs https://t.co/Le4EmaKcHQ
President Biden's budget, out later today, will propose tax breaks for families and push for tax increases for the wealthiest Americans. https://t.co/JFU4nI4K6e
Biden will send Congress his 2025 budget plan at noon today, in which he will call for higher taxes on the wealthiest Americans and large corporations, with a goal of reducing the deficit by $3 trillion over 10 years. https://t.co/lH21PPEVY4