Biden's $6 tril. budget eyes defense boost amid Russia, China threats

The U.S. administration of President Joe Biden on Monday released a $5.8 trillion budget proposal for fiscal 2023, featuring what it calls one of the largest investments in national security in the country's history amid threats posed by Russia and China.The budget plan also included a 20 percent minimum tax rate on U.S. households worth more than $100 million, as part of efforts to increase state revenue to put toward cutting deficits and improving the country's long-term fiscal outlook.The proposed budget for the year starting Oct. 1 earmarked $813.3 billion for national defense, up 4 per…READ FULL ARTICLE