Democratic Senate negotiators are homing in on a final proposal to tax the nation’s wealthiest individuals and families as a principal source of revenue for …
Democratic Senate negotiators are homing in on a final proposal to tax the nation’s wealthiest individuals and families as a principal source of revenue for a major human infrastructure spending bill. The proposal would apply only to taxpayers who have more than $1 billion in assets or who earn $100 million in income for three consecutive years, according to a person familiar with the negotiations. It would apply to around 700 taxpayers and is projected to raise hundreds of billions of dollars. “In a package that’s supposed to be about giving everybody a shot to get ahead, it would be a big mistake, from both a policy and a political perspective, not to ask billionaires to pay a fair share,” said Senate Finance Committee Chairman Ron Wyden (D-Ore.
