Watch Live: President Biden announces his Budget for Fiscal Year 2023

US President Joe Biden announces his Budget for Fiscal Year 2023.

This is expected to reduce deficits by more than $1 Trillion over the next decade, advance safety and security at home and around the world, and make the investments needed to build a better America.

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The Biden administration on Monday unveiled the the budget proposal for 2023.This will be totaling more than $5.7 trillion in spending and including a new tax on billionaires. This comes just weeks after Congress passed the omnibus spending bill for the rest of 2022. 

In a statement, Mr. Biden said his budget sends a "clear message that we value fiscal responsibility, safety and security at home and around the world, and the investments needed to continue our equitable growth and build a better America."