President Obama unveiled a new budget proposal on Monday for fiscal 2016 to the tune of nearly $4 trillion. The plan, complete with new tax increases, aims to strengthen the middle class, but could have significant implications for hedge funds, private equity firms and big banks. TheStreet’s Scott Gamm speaks with Ronald Orol, a senior editor with The Deal to discuss the ins and outs of the budget proposal as it relates to Wall Street. From Orol’s view, the plan has little chance of passing Congress, which Republicans took control of during last November’s mid-term elections.
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