President sparred with Republicans Thursday night over taxes for the wealthy as he touted new proposals to hike corporate tax rates and other plans he said would slash $3 trillion from the nation's balance sheet. They were some of the most sweeping policies of is State of the Union speech, although they have almost no chance of enactment while Republicans control the House. They would even face headwinds in the Democratic , where his party is fighting to cling to control in 2024.'You know there are 1,000 billionaires in America. You know what the average federal taxes for those billionaires now are making great sacrifices – 8.2 per cent,' he said.
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