Biden pitches $5.5T in tax hikes, fed worker pay raise in budget proposal

WASHINGTON — President Biden’s annual budget plan calls for roughly $5.5 trillion in tax increases over the next decade to offset proposed spending increases — including a massive 5.2% federal worker pay raise.

The package, to be announced later Thursday, is headed for certain defeat in the Republican-held House of Representatives and comes as the GOP demands spending cuts without new taxes in a standoff with Biden over raising the federal debt ceiling later this year. ---More...