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A 2024 post from Senate Democrats in support of a wealth tax in the form of Senate Bill 5486 said proceeds would be “dedicated to education, housing, disability services, and tax credits for ...
Democrats are going after tax avoidance from big companies and wealthy individuals as the debate on taxes heats up ahead of tax code expirations scheduled for next year. A new set of proposed ...
WASHINGTON — President Joe Biden is gearing up to raise taxes on wealthy people in the U.S. if he’s re-elected this fall, picking a fight with Republican rival Donald Trump, who is promising ...
Wealthy people are bracing for potentially higher taxes that could hit their bank accounts as soon as ... Taxing assets upon death. Democrats also want to change how assets are taxed when passed ...
A California Democrat is renewing his efforts to tax wealthy residents’ net worth as a potential solution to closing the state’s $68 billion spending gap.. And Democratic Assembly Speaker ...
“The Democratic Party’s stance on taxing the wealthy has shifted only slightly in recent years,” Vanessa Williamson, senior fellow in Governance Studies at Brookings and the Urban-Brookings ...
Supporters say targeting billionaires' untaxed assets would have been a clever way to reduce inequality, but skeptics feared the plan was too complicated and possibly even unconstitutional.
Several states are unveiling new tax proposals, adding to an effort by the Biden administration and Senate Democrats to tax ultra-rich Americans and corporations.