President Biden to Release Proposed Budget with Tax Incentives for Homebuyers and Sellers

Published: 11 March 2024 at 10:13

President Joe Biden is set to unveil his proposed budget to Congress, featuring new tax incentives for first-time homebuyers and sellers. The budget includes measures like tax credits for homebuyers and sellers, an expansion of the low-income housing tax credit, and a grant fund for affordable rental units. Biden\'s budget also entails higher taxes on corporations, an extension of tax cuts for those earning under $400,000, and the reinstatement of the expanded child tax credit. The plan aims to reduce deficits by $3 trillion over a decade and allows Medicare to negotiate prices for 500 prescription drugs.

SOURCES

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