OnPolitics: President Joe Biden set to unveil budget proposal, what do we know?

Hi there, OnPolitics readers! 

President Joe Biden is set to send his proposed budget to Congress Thursday. The White House previewed it today, sharing some details of what it will contain. Here's what we know so far. 

• Who wouldn't pay more: Biden's proposal would raise taxes on wealthy Americans, but anyone making less than $400,000 a year "will not pay an additional single penny in any tax." 
• Billionaires' tax? While he hasn't released any specifics on his so-called "billionaires' tax," it's likely to mirror a proposal he offered last year that called for a 20% minimum income tax on multimillionaires and billionaires. 
• Medicare: The president will also propose raising the Medicare tax rate to increase the life expectancy of the program. Under this plan, the tax rate on earned and unearned income above $400,000 would increase from 3.8% to 5%. 
• Corporate stock buybacks: Biden is also expected to raise the tax on corporate stock buybacks, as he called for Congress to quadruple it during his State of the Union speech in February. 

🔎  Keep reading: President Joe Biden's budget proposal will include tax increases. What are they?

🚑 A plan for Medicare?: Biden budget proposal would increase Medicare tax for Americans earning more than $400K

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