Ron Wyden Democrat of Oregon unveiled a new Billionaire Tax called the Patriotic Tax Act but the Democrat’s new proposal for Billionaires to pay for the 3.5 Billion Infrastructure plan has crashed just hours after the idea was made public.
- The billionaire’s tax proposal was introduced by Senator Ron Wyden today
- Rep. Richard Neal announced it was out of Biden’s plans as of this afternoon
- Wyden soon disputed Neal’s claim, stating that the ‘Senate has a say too’
- It would have levied taxes on unrealized gains in the ultra-wealthy’s financial assets like stocks and bonds, rather than just a capital gains tax
- Finance Chair pushes back and insists ‘we’re continuing to work with members’
From the White House on the issue:
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