President Obama presented his 2013 budget to Congress on Monday that includes $1.5 trillion in new taxes over the next ten years for the wealthiest taxpayers, closing some corporate tax breaks, and allowing Bush-era tax cuts to expire. However, it’s not all cuts: the budget outlines increased spending for infrastructure projects, job-training, and innovation. Overall, it aims to lower the deficit below $1 trillion. Jackie Calmes is the White House correspondent for our partner The New York Times.
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