The latest news concerns President Biden's $7.3 trillion budget proposal, featuring tax hikes on corporations and high earners, increased spending on social programs, and efforts to combat consumer costs. The document emphasizes the president's stance on economic issues and his push for increased government aid. However, with the opposition of House Republicans, the budget faces slim chances of becoming law this year. The proposal is positioned as a key element of President Biden's re-election platform, emphasizing his economic policies and contrasts with his potential Republican opponent. Nonetheless, the budget is expected to receive limited support from the opposing party.