- President Biden’s Fiscal Year 2024 budget proposal contains nearly $4.7 trillion in new tax hikes on American individuals and businesses. Biden’s proposed tax hikes come just months after Democrats passed more than $700 billion in tax increases in the so-called Inflation Reduction Act.
- Biden’s budget proposal is a direct violation of the President’s campaign pledge to not raise taxes on small businesses.
- Below is a list of tax hikes included in Biden’s budget proposal. This list will be updated as more details of Biden’s Budget become available.
