President Biden Budget Proposal 2025. President joe biden on march 11 sent congress a fiscal year 2025 budget that proposes to increase taxes by nearly $5 trillion for corporations and for individuals with incomes above. In addition, the president has also enacted another roughly one trillion in deficit savings over the next decade through the fiscal responsibility act.

The president’s fy2025 budget request includes $4.9 trillion in new or increased taxes over the next decade. It would offer tax breaks for families, lower health.