To reduce the deficit by nearly $3 trillion in 10 years, the US president is proposing to create a tax targeted at billionaires and increase the minimum tax rate for large corporations.
Joe Biden’s 2024 budget, unveiled Thursday, plans to cut the deficit by nearly $3 trillion over 10 years, introducing a floor tax for billionaires and raising the floor tax rate for large corporations.
At the same time, the US president intends to reduce certain expenses considered “useless”, targeting in particular “Big Pharma”, that is, the pharmaceutical sector, and “Big Oil”, the oil industry. However, the strongest measures have almost no chance of breaking through the barrier of Congress, now partly controlled by the Republican opposition.
Source: BFM TV
