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WATCH: Biden says he intends to raise taxes on richest

President Joe Biden says he’s “not looking to punish anybody” but does plan to raise taxes on the wealthiest Americans.

Watch the moment in the player above.

Biden wasn’t shy about saying during a joint address to Congress that he’ll pay for his $1.8 trillion spending package by raising taxes on the rich. He attacked the Republican-backed, 2017 tax cuts, saying they created large deficits while most benefiting the richest Americans.

Biden says his plan will most help the American middle class. He’s also pledging not to raise taxes on the middle class. He says most Americans have already “paid enough.”

But the president also says that the huge increase in spending he’s backing will require more money coming into the government, and he says it should come from CEOs and the rich.

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