Biden’s $7.3 trillion tax-and-spending proposal for 2025 is out, and it’s just as you’d expect — a far-left “wishlist” defined by massive spending increases and tax hikes on Americans.

The gimmicks are a desperate attempt to buy votes ahead of an election that will be a referendum on Biden’s failed economy.

Biden wants to “finish the job” of destroying the country:

• Biden’s budget includes $5.5 trillion in tax hikes — increasing from roughly 18 percent of GDP to 20+ percent — even after the IRS collected a record $4.9 trillion in tax revenue last fiscal year.
  • It would be “the highest peacetime burden in American history, as well as the highest sustained taxes in American history,” according to one analyst.
     
• Biden proposes massive corporate tax increases, giving the U.S. a higher business tax rate than communist China.
  • The Tax Foundation previously found that would kill 159,000 jobs, shrink the economy by $720 billion, and cut wages for low-income Americans.
     
• Biden’s budget restores billions of dollars for a supercharged IRS, even after it was successfully clawed back by Republicans.
   
• Biden proposes a second death tax by removing the step-up in basis upon certain inheritance.
   
• Biden proposes homebuyer and mortgage tax credits — an admission that record mortgage rates and skyrocketing rents are unaffordable under Biden — that would make the housing crisis worse by doing nothing to address supply.
   
• Biden wants billions to “train young workers” on climate change — a major tenant of AOC’s Green New Deal.

Biden is repeating promises he has already broken. Biden has repeatedly promised Americans earning less than $400,000/year won’t “pay an additional penny in federal taxes,” but he has already raised the tax burden on Americans earning as little as $20,000/year. Biden promised deficit reduction, but his inflationary policies have already added $6 trillion to the $34+ trillion national debt and are fueling big, long-term deficits.

House Republicans have already unveiled a ten-year balanced budget that reverses Biden’s runaway spending, weeds out fraud and abuse, and fuels prosperity for Americans.

There’s a reason a majority of Americans say Biden’s policies will make things even more expensive — and trust President Trump to bring prices down.

Americans will be prosperous again under President Trump.