Biden’s budget plan: Higher taxes on rich, lower deficits

WASHINGTON (AP) — President Joe Biden is releasing a budget blueprint that tries to tell voters what the diverse and at times fractured Democratic Party stands for. It calls for higher taxes on the wealthy, lower budget deficits, more money for police and greater funding for education, public health and housing.

The 156-page plan also shows the splinters that persist in Biden’s coalition. And there are possible gaps between the promise of what is being offered and the realities of what ultimately emerges.

The proposal includes a minimum 20% tax on the incomes of households worth $100 million or more.