President Joe Biden’s 2023 federal budget proposes tax hikes on the ultra-wealthy and on corporations while providing billions of dollars in new spending at the Defense and Justice Departments. Joe, Becky, and Andrew digest the proposal, its potential to bolster domestic investment, and plans to reduce the federal deficit. In light of increasing Covid infections, Shanghai began a two-stage lockdown today. CNBC’s Eunice Yoon reports the lockdown of China’s largest city includes orders to work from home as well as the suspension of public transit and ride hailing. Dr. Scott Gottlieb, former FDA commissioner and CNBC contributor, discusses China’s zero-Covid policy and says Shanghai will have a hard time containing Covid infections. Plus, Axios media reporter, Sara Fischer recaps Sunday’s memorable Oscars ceremony, slaps, streaming wins, and all. 

 

In this episode:
Dr. Scott Gottlieb, @ScottGottliebMD
Eunice Yoon, @onlyyoontv
Sara Fischer, @sarafischer
Andrew Ross Sorkin, @andrewrsorkin
Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Katie Kramer, @Kramer_Katie

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