WASHINGTON (AP) — President Barack Obama is sending Congress a $4 trillion budget that would boost taxes on higher-income Americans and corporation. It would use the money to get rid of tight budget spending caps, fund an ambitious public works program and provide middle-class tax relief.
Obama's budget, which will set off months of wrangling in Congress, proposes spending $4 trillion — $3.999 trillion before rounding — in the budget year that begins Oct. 1. That's a 6.4 percent increase over projected spending this year. It projects the deficit will decline to $474 billion in 2016.
In a message accompanying the massive budget books, Obama says his proposals are "practical, not partisan." But even before the books were delivered, Republicans found plenty to criticize in tax hikes totaling $2 trillion.