Biden’s $6 Trillion Spending Plans at Risk Unless Congress Approves Tax Hikes: White House Budget ChiefEpoch Times, United States politics | The Epoch Times

Acting White House budget director Shalanda Young told a Senate committee hearing Tuesday that President Joe Biden’s proposed $6 trillion spending plans are at risk unless Congress approves associated tax hikes. Young made the remarks while testifying at a Senate Budget Committee hearing on Biden’s fiscal year 2022 budget proposal, which calls for a sharp ramp-up of non-defense domestic spending while raising taxes on corporations and the wealthiest Americans, and boosting IRS enforcement to crack down on tax evasion. Biden’s proposed $6.01 trillion in spending brings together the $2.3 trillion American Jobs Plan and the $1.8 trillion American Families Plan, along with some $1.5 trillion in discretionary spending for fiscal 2022, and other mandatory spending programs. The blueprint maps out some $4.17 trillion in revenues, projecting a $1.84 trillion deficit—a sharp drop from the past two years because of the COVID-19 pandemic—but up from 2019’s $984 billion. It calls for around $2 trillion in corporate tax …Read More

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