Biden's Presidency Yields Net Tax Cut, Analysis Shows

Despite plans to increase taxes on the wealthy and corporations, Biden's fiscal policies have led to a significant overall tax reduction.

President Biden's overall tax policy has resulted in a net tax cut of about $600 billion over four years, according to an analysis by the Urban-Brookings Tax Policy Center.
The tax cuts include incentives for energy-efficient products, manufacturing, and direct benefits to individuals, while tax increases focus on corporations and their shareholders.
Biden's inability to pass key parts of his fiscal agenda, particularly tax increases on corporations, has contributed to the overall tax reduction.
Critics' portrayal of Biden as a tax-and-spend liberal is challenged by the analysis, which highlights the complexity of his fiscal policies.
The analysis does not account for inflation or regulatory costs, focusing solely on changes to the tax code during Biden's presidency.