On today’s NOTICE News Daily: President Biden unveiled his budget proposal for the federal government’s $6.9 trillion budget last week. We take a look at what he wants and how he wants to pay for it—by raising taxes on the rich. Plus: An historic treaty was just signed to protect the ocean.
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Top Story: Biden Proposes Raising Taxes On Rich To Pay For Federal Budget
Last week, President Biden laid out his proposal for the federal government’s budget: $6.9 trillion on important things like social security and healthcare, and he wants to raise taxes on rich people and big companies to help pay for it. But Republicans in Congress don’t agree with the president’s plan and want to cut spending instead. >> Full story
More info…
- Go deeper: This article from CNN lists in detail what is in Biden’s budget proposal
- The other side: Republicans slam Biden’s budget proposal they say is jam-packed with spending: ‘Taxes, taxes, and more taxes’ (Fox News)
- Primary source: This press release from the White House lays out the President’s proposed budget in detail
- The basics: How the Federal Budget Process Works (Investopedia)
In Other News…
- Trump has been invited to testify in front of a grand jury in New York: “Former President Donald Trump has been invited to testify before a New York City grand jury — a move that is widely understood to mean Trump could soon face criminal charges related to his financial dealings and the payment of hush money.” >> Full story from NPR
- Xi Jinping secures unprecedented third term as China’s president: “Xi Jinping’s unprecedented third term as China’s president was officially endorsed by the country’s political elite on Friday, solidifying his control and making him the longest-serving head of state of Communist China since its founding in 1949.” >> Full story from CNN
- Ranch-dressing flavored ice cream is coming from Hidden Valley: >> Full story from USA Today
Treaty signed that will protect ‘high seas’
The United Nations has established a treaty to protect the high seas, or international waters, which are not regulated by any specific country. The treaty aims to protect the oceans by designating 30% of them as protected areas and limiting activities such as fishing and deep-sea mining. Negotiators had to balance economic interests with environmental concerns, but the agreement is seen as a historic step towards conservation. >> More from BBC: What is the UN High Seas Treaty and why is it needed?