President Obama unveiled his eighth and final budget plan Tuesday. The $4.1 trillion budget proposal for fiscal 2017 — which starts Oct. 1, just months before Obama leaves office — focuses on progressive issues including clean energy, education, and Medicaid and requests $19 billion for a new cybersecurity initiative.
The proposal seeks to raise an additional $2.6 trillion in taxes over the next 10 years by hiking taxes on big banks and the wealthy. Revenue is projected to increase by $308 billion in the next fiscal year and spending is estimated to increase by $196 billion.
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