U.S. Senate Democrat unveils 'billionaires tax' for Biden agenda

Posted on AllSides October 27th, 2021
From The Center
Taxes, billionaires, Senate Democrats
REUTERS/Carlos Barria

U.S. billionaires would pay tax on unrealized gains from their assets to help finance President Joe Biden's emerging social-policy and climate-change legislation, according to a proposal unveiled on Wednesday by the top Senate Democrat for tax policy.

The so-called billionaires tax, announced by Senate Finance Committee Chairman Ron Wyden, is part of a two-pronged legislative strategy that also includes a proposed 15% corporate minimum tax on the most profitable U.S. corporations, which was unveiled on Tuesday.

Wyden and other lawmakers, including Democratic Senator Elizabeth Warren, say the legislation is intended to curtail...

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https://www.reuters.com/world/us/us-senate-democrat-unveils-billionaires-tax-biden-agenda-2021-10-27/

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