Biden administration announces budget statement to reduce budget deficit by 440 trillion yen through tax increase. By increasing taxes on the wealthy and large corporations, it will cost 3 trillion dollars in Japanese yen over the next 10 years.
In the United States, some of the budget proposals for this fiscal year that began last October have not been passed due to opposition from the opposition party, the Republican Party, which holds a majority in the House of Representatives. In addition, rising housing costs become a major issue due to the effects of inflation and the Federal Reserve's interest rate hikes.