Biden to billionaires: 'Begin to pay your fair share of taxes' | ANC

Soundbytes: President Joe Biden again calls for higher taxes on corporations and rich Americans as he outlined his policy vision for a potential second four-year term. Biden unveiled a $7.3 trillion election-year budget which includes new programs to assist low- and middle-income Americans with high housing, healthcare and childcare costs and aims to cut the deficit, while raising tax receipts by $4.951 trillion over ten years, including more than $2.7 trillion in tax hikes on businesses and nearly $2 trillion on wealthy individuals and estates. Biden's "billionaire tax" would impose a 25% minimum tax on individuals with wealth of over $100 million. The Treasury estimated it would raise $502 billion over the decade.

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