Biden's Budget is the Most Ambitious Tax Plan We've Seen from a President in Decades

Today, President Joe Biden will release his budget for Fiscal Year 2024 which includes, among other things, a number of new taxes on centi-millionaires and billionaires.

In response, Erica Payne, the founder and President of the Patriotic Millionaires (and the creator of the infamous Granny Off the Cliff ad) issued the following statement:

“President Biden’s proposed budget is the most ambitious tax plan we’ve seen from a President in decades - and a clear emphasis of the values that he and the Democrats stand for: investing in our country, fighting off corporate profiteering, protecting the social safety net, and doing so all while reducing our nation’s budget deficit. It can do all this simply by raising taxes on corporations and millionaires.

The wealthiest Americans and corporations can easily afford to pay more - and hundreds of patriotic millionaires and billionaires are ready and eager to do their part to make sure all Americans can thrive.

Let's be clear: as President Biden’s budget lays out - we can invest in America, expand the social safety net, fight income inequality and do it all while lowering taxes for working people - if we simply require the wealthiest Americans to pay their fair share."

Erica Payne is available for interview and requests for comment, as is Bob Lord, Senior Advisor of Tax Policy for the Patriotic Millionaires, a lawyer whose former tax practice once helped wealthy clients find loopholes in the tax code. Bob was recently featured as a policy expert in the New Yorker's exposé of the Getty family's network of trusts, and is available to provide expert commentary on the tax provisions in Biden's budget.