Biden will raise taxes in March, says it’s ‘bizarre’ billionaires pay lower rates than teachers

President Joe Biden said during a press conference in Virigina Beach, Va., on Tuesday that his March 9 budget proposal to the U.S. Congress will include some higher taxes on billionaires, but will not violate his pledge not to raise rates on Americans making less than $400,000 a year. “The idea that a billionaire… pay at a rate that is lower than the rate of a police officer, a school teacher, a nurse — is bizarre,” Biden said.

• Joe Biden pitches tax increase for high earners to keep Medicare afloat