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President Biden's $7.3 Trillion Budget Includes Over $5 Trillion in New Taxes
The solution proposed by President Biden to address current economic challenges includes a $7.3 trillion budget with over $5 trillion in new taxes. This budget aims to restore tax credits, provide aid to first-generation homebuyers, and fund social programs through corporate tax increases. The proposal includes raising the corporate tax rate from 21 to 28%, which would still be higher than many other G20 countries, despite the reduction from the previous 38.9%.