Biden targets billionaires in tax raid and vows to tighten borders

JOE BIDEN used his annual budget to woo voters and bash his political rivals by promising tax hikes for billionaires and cash to ramp up border security.

While the $7.3 billion (£5.7 billion) presidential wish list stands almost no chance of passing the Republican-led House, it serves as a blueprint for what a second Biden administration would look like.

The White House said Mr Biden’s policies are in “sharp contrast” to Republican plans for “tax giveaways skewed to wealthy and big corporations”.

The Democrat leader “has made low- ering costs for hard-working families his top economic priority”, they added.

Mr Biden has struggled with poor ratings on his handling of the economy and yesterday’s proposals focused on populist topics in the hope it could help him clinch extra votes.

In his budget for the 2025 fiscal year, Mr Biden called for initiatives to lower healthcare, housing and child care costs as well as introduce a swathe of new taxes for the super rich and major businesses.

The planned proposal promises to shave $3 trillion off the national debt

over the next decade.

It also includes a $4.7 billion emergency fund to enable the Department of Homeland Security to ramp up security if experiencing a surge at the border.

Mr Biden also renewed his demand for funding Israel, Ukraine, Taiwan and other national security issues that has been stalled by Republican congressional leadership for months.

His proposal is in stark contrast to Donald Trump who has said he wants to sharply increase tariffs on imported foreign goods and cut regulations on energy producers.

The budget was released days after Mr Biden’s State of the Union address, during which he hit back at attacks on his age and positioned himself as the defender of democracy.

It comes as the Democrat leader embarked on a string of visits to battleground states New Hampshire, Wisconsin and Michigan.

On Thursday, House Republicans issued an “unworkable” proposal to balance the budget within a decade by cutting $14 trillion in federal spending, including green energy subsidies and student loan forgiveness, while reducing taxes.