President Joe Biden called Monday for a new tax on billionaires and for more funding for police and the military in a proposed budget that he sent to Congress for the upcoming fiscal year. The proposal outlines the administration’s spending priorities at a time when inflation has soared to its highest level in four decades. Congress is in charge of writing the federal budget, and Biden’s spending plan will become the starting point for negotiations between lawmakers and the White House. The proposal also outlines a series of proposals that set up the themes that Biden and congressional Democrats will likely emphasize in this fall’s midterm elections. Tap our link in bio for additional highlights on the proposed budget.