Joe Biden travelled to Philadelphia on Thursday, 9 March, to unveil his new budget plans.
The president detailed his proposals at the Finishing Trades Institute union hall.
The FY 2024 budget will lay out Mr Biden's plan to "invest in America, lower costs for families, protect and strengthen Social Security and Medicare, and reduce the deficit," a White House statement said.
Planned reforms to individual and corporate tax codes are intended to ensure that large corporations "pay their fair share."
"Wasteful" spending on Big Pharma, Big Oil, and other special interests will be cut.
The White House says that taxpayers will save hundreds of billions of dollars and deficits will be reduced by almost $3 trillion under the plans.
"President Biden has long believed that we need to grow the economy from the bottom up and middle out, not the top down," the White House said.
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