Biden Budget Would Help Lift Up Those With the Least by Asking a Little More From Those With the Most

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The plan would make important investments in a range of areas by raising taxes on high-income people and profitable corporations that have benefitted the most from the nation's economy.

century tax system that supports these investments to build toward an economy that works for everyone. It lays out an agenda that would move us closer to a nation where everyone — regardless of their background, identities, or where they live — has the resources they need to thrive and share in the nation’s prosperity.

For example, the budget invests in helping people afford rent and supporting people experiencing homelessness. It provides $2.4 billion in additional funding for Housing Choice Vouchers, which bridge the gap between what a household can afford and the cost of rent in their communities, and an $122 million increase for homelessness services and supports, with $6 million targeted to people living with HIV/AIDS who need housing assistance.

The budget proposes to increase base funding for the IRS by $1.8 billion or 15 percent over the 2023 level. The increase reflects a commitment to deliver an IRS that honest taxpayers and business owners deserve: one that provides taxpayer assistance, efficiently processes tax returns, and collects legally owed taxes from people who would try to cheat.

The President’s budget makes some important advances in addressing the affordable housing crisis.

 

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