Joe Biden

After championing a major expansion in federal aid, the president is now putting the budget deficit back in the spotlight.

The First Couple reported $610,702 in income in 2021 and paid $183,925 in federal and state income taxes, according to their annual tax return released Friday by the White House.

President Biden signed an executive order to strengthen the ACA, in part by closing a loophole that prevents millions of Americans from accessing subsidies.

Manchin doomed two pieces of the plan — ending a tax break for fossil fuels and taxing unrealized capital gains — just hours after Biden announced them.

Biden’s 10-year outlook still would rack up $14.4 trillion in deficits — most of it on autopilot — even after accounting for that $1 trillion in net deficit cuts from new policies like tax increases on the wealthy and corporations.

President Joe Biden’s plan to tax unrealized capital gains ran into opposition from key Democratic Senator Joe Manchin, likely dooming it just hours after it was sent to Congress.

President Joe Biden made a fresh effort on Monday to persuade Congress to take steps to overhaul the tax code and squeeze more revenue from the largest companies and the wealthiest households.

The administration is calling for more than $2.5 trillion in tax hikes on wealthy and large corporations over a decade.

The budget calls for a minimum 20% tax rate that would hit both the income and unrealized capital gains of households worth more than $100 million.

The request will show a $1 trillion reduction in deficit spending over the coming decade, generated in part by a new tax targeting billionaires.