• KYODO, REUTERS, BLOOMBERG

  • SHARE

The U.S. administration of President Joe Biden on Monday released a $5.8 trillion budget proposal for fiscal 2023, featuring what it calls one of the largest investments in national security in the country’s history amid threats posed by Russia and China.

The budget plan also includes a 20% minimum tax rate on U.S. households with more than $100 million, as part of efforts to cut deficits and improve the country’s long-term fiscal outlook.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)