The new 2016 budget proposal is set to debut on Monday, but Obama has already mentioned a couple of new changes coming. One of those is a one-time tax of 19% on future foreign earnings. Another one will be a 14% tax on offshore profits. These taxes will help fund infrastructures and other projects for the country. In order for this funding to take place, Congress will have to approve it which is questionable.
During a press conference on Friday, President Barack Obama provided new details surrounding the Precision Medicine Initiative. The initiative was announced during the State of The Union.