President Biden called out billionaires like Tesla CEO Elon Musk and Amazon founder Jeff Bezos, as well as other wealthy Americans, while floating a major corporate tax hike and a mortgage tax credit for would-be homebuyers during his State of the Union address Thursday night.

Biden, 81, is lagging behind former President Donald Trump, the presumptive Republican nominee, as polls show high disapproval among voters for his handling of the economy.

In one of the only new policies pitched in the speech, Biden proposed the new benefit for home-buyers suffering from a COVID-19 pandemic spike in house prices and a subsequent and ongoing jump in interest rates.

“If inflation keeps coming down, mortgage rates will come down as well,” Biden said — as some polls show younger voters breaking for Trump in what would be a significant electoral pivot.

“The Fed acknowledges that. But I’m not waiting,” he went on. “I want to provide an annual tax credit that will give Americans $400 a month for the next two years as mortgage rates come down to put toward their mortgages when they buy their first home or trade up for a little more space.”

At the other end of the wealth scale, Biden called for a 28% corporate tax rate in an attempt to reverse Trump’s 2017 Tax Cuts and Jobs Act.

“Look, I’m a capitalist. If you want to make a million bucks — great! Just pay your fair share in taxes,” he said.

“The last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit.”

Firebrand Rep. Marjorie Taylor Greene (R-Ga.), who erupted at several points during the speech, at one point took a swipe at Biden’s son, Hunter, who was indicted last year for tax fraud. 

“Tell Hunter to pay his taxes,” she shouted. 

The 54-year-old first son was federally indicted in Los Angeles in December for allegedly failing to pay $1.4 million in taxes.

The White House in a Thursday morning fact sheet said Biden would also demand a 25% income tax on those with a net worth of more than $100 million.

“No billionaire should pay a lower tax rate than a teacher, a sanitation worker, a nurse,” Biden said in his speech, before boasting the tax rate would “raise $500 billion over the next 10 years.”

Republicans disagreed with the president’s approach and defended the Trump-era tax cuts for having lifted the lower classes out of poverty, while agreeing with Biden’s decision to stand by the child tax credit.

“That brought us to lowest unemployment in decades, lifted people’s wages, lifted families out of poverty with the doubling of the child tax credit,” Rep. Nicole Malliotakis (R-NY) told The Post ahead of the speech. “African Americans and Hispanics saw the lowest unemployment rates — so those people believe in the Trump economic policies.”

Others disparaged the move, saying it was part of an effort to crush domestic energy production.

“I think, if this was his economic blueprint, it’s just not gonna work,” Sen. Eric Schmitt (R-Mo.) told The Post. “I think that he’s doubling down on this, you know, kind of bending the knee to this climate-alarmist agenda that is responsible for shipping jobs overseas and hollowing out the middle class.

National Economic Council director Lael Brainard said the proposals — which are almost certain to fail in Congress unless Biden wins re-election and Democrats gain the House of Representatives and retain the Senate — are part of Biden’s vision “to make our tax code fairer and to lower the deficit by making big corporations and the wealthy pay their fair share.”

“We think this proposal would raise more than $250 billion,” a senior administration official said of a proposal to deny businesses tax deductions on salaries above $1 million per year.

“In current law … deductions are not allowed for the CEO, the CFO, and a number of other officers. But this would expand that to include anybody who is being paid over a million dollars,” the official affirmed.

Biden also asked Congress to expand a $3,600 annual tax credit per child for eligible families, as well as another tax credit for low-wage workers and pledge to extend other Trump-era tax cuts.

“None of his policies will raise taxes by a single penny on anyone making under $400,000 a year,” Brainard insisted. “While the president wants to cut taxes for working families, congressional Republicans want to cut taxes even more for the wealthy and big corporations, all while adding more than $3 trillion to the debt.”

The Biden campaign put up immense fundraising totals at the start of the year, with $42 million raised in January and $130 million cash on hand.

Meanwhile, Trump’s campaign has been dogged by mounting legal expenses while defending his four criminal indictments, with just $65 million cash on hand in December.

Musk, who boasts a net worth of nearly $200 billion, met with Trump in Palm Beach, Fla., on Sunday, according to reports, as the former president courts deep-pocketed donors for his campaign.

The CEO of Tesla has harshly criticized the Biden administration’s border policies for allowing record-breaking numbers of migrants to enter the US — and earlier this week said the president’s acts amounted to “treason.”

Musk said on X Wednesday he will not donate to either Trump or Biden ahead of the 2024 election.

Bezos also has yet to wade into the presidential race with a direct donation to either campaign.