"Biden's Budget Proposal: Tax Cuts, Middle Class Support, and Federal Pay Raise"

President Biden's proposed 2025 budget includes tax breaks for low- and middle-income families, such as reviving the expanded Child Tax Credit and expanding the Earned Income Tax Credit to include more low-wage workers and senior citizens. Other proposals in the budget include affordable child care, free preschool for 4-year-olds, tax credits for first-time homebuyers, and permanent expanded premium tax credits for ACA marketplace insurance buyers. These proposals would be paid for by raising taxes on high-income Americans and corporations, including raising the corporate tax rate to 28% and requiring billionaires to pay at least 25% of their income in taxes.