With conflict abroad and midterms ticking closer, the president has a very narrow window to right both his political fortunes and legislative agenda. President Biden’s budget proposal landed with a familiar thud on Capitol Hill this spring. In and of itself, this was not altogether that surprising. Most presidential budgets are aspirational in nature and face the Congressional meat-grinder before ever becoming law. But it was still surprising to see the administration use the budget introduction to default back to a series of stale tax proposals — chief among them a sizeable hike in the corporate tax rate — that have long been disregarded as a combination of bad politics and bad policy
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