Biden’s $5 trillion tax gambit catches Congress by surprise

President Biden went big in his $6.8 trillion annual budget proposal to Congress by calling for $5 trillion in tax increases over the next decade, more than what lawmakers expected after the president downplayed his tax agenda in earlier meetings. 
 

It’s a risky move for the president as he heads into a tough reelection campaign in 2024.  

Senate Democrats will have to defend 23 seats next year, including in Republican-leaning states such as Ohio, Montana and West Virginia, and Americans are concerned about inflation and the direction of the economy.