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Fortune
Fortune
Tristan Bove

Biden's going after the billionaires in his State of the Union speech tonight, and he's not thrilled with oil companies either

President Joe Biden during a speech (Credit: Chip Somodevilla via Getty Images North America)

President Joe Biden says he won’t stand in the way of anyone trying to become a billionaire, but that doesn’t mean he won’t step in to tax the rich or corporate America.

Biden will take the stage Tuesday night for his second State of the Union address, where he will deliver his annual message to Congress outlining the nation’s economic, political, and legislative status. The president is expected to lean into positive economic news such as a strong labor market, but is also likely to be met with hostility from congressional Republicans over inflation and a debt ceiling standoff.

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