Biden discusses proposed tax on ultra-rich and defense spending in 2023 budget

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President Joe Biden is scheduled to unveil his 2023 federal budget on Monday afternoon at the White House.

The budget request to Congress features tax hikes on the ultra-wealthy and corporations while providing billions of dollars in new spending for the Defense Department and the Justice Department.

Overall, the 2023 fiscal year budget shifts focus away from the Covid-19 pandemic, which has subsided after the massive omicron wave late last year. Notably, there are no emergency pandemic or supplemental funds being requested.

In place of Covid, the budget focuses on the need to tackle crime and public safety, and the global peril created by Russia’s invasion of Ukraine.