Biden Tax Plan For Individuals 2025. Or 457(b) plan, with an extra $7,500 if you are age 50 or older, according to. Top tax rates under president biden’s fy 2025 budget.

The president’s budget calls for hiking the individual federal income tax rate up to 39.6 percent from 37 percent, not including surtaxes. The budget prioritizes tax fairness by implementing measures to ensure that wealthy individuals and large corporations pay their taxes.