News > Biden unveils higher taxes on the rich as part of $5.8 trillion budget 

Biden unveils higher taxes on the rich as part of $5.8 trillion budget 

President Joe Biden made big announcements on Monday regarding the most significant tax hike in the history of the US, mainly targeting ultra-rich Americans and corporations. 

These high taxes will be on the shoulders of Wall Street, basically big corporations and ultra-wealthy U.S. households, which will be in the form of steeper corporate rates, a modified wealth tax, and a global minimum tax.