NEW: President Biden's fiscal 2023 budget proposal increases additional military spending, increases gun regulation, and includes a new tax provision targeting billionaires.
rages on, and seeks tighter gun regulation and a new tax provision targeting billionaires.
Congress takes the president's recommendations and crafts their own budget, often ignoring proposals that come from the White House. White House officials told reporters on a call Monday ahead of the release that there have been major changes in the economy since the budget forecast was “locked” in November.
She added that independent forecasters therefore expect somewhat slower GDP growth, but still anticipate that inflation will come down.
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