Biden’s Budget Tax Increases on Wealthy Will Indirectly Harm Middle-, Low-Income Americans: Budgetary Policy Expert

President Joe Biden has unveiled his $7.3-trillion budget proposal for the fiscal year 2025. NTD spoke to Richard Stern, the director of the Federal Budget policy center at The Heritage Foundation, and a former budget adviser to Congressman Mike Johnson. Mr. Stern said that while President Biden’s tax hikes are not directed at Americans earning less than $400,000 per year, they will harm them indirectly in the guise of higher consumer prices and lower wages.

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