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Biden’s 1970s-Era Tax Plan Collides With GOP and SALT Rebels (1)

April 26, 2021, 3:23 PM

President Joe Biden is poised to unveil a plan that would raise taxes on the income, investments and estates of the wealthiest Americans to levels not seen in more than four decades, a move that will trigger intense debate in Congress about whether and how to address income inequality.

Biden’s “American Families Plan,” itself featuring the biggest expansion of federal support for lower-income and middle-class Americans in decades, will be offset by a series of tax increases on the wealthy, administration officials say. The president will unveil his program in a Wednesday night speech to Congress.

WATCH: President Joe Biden will provide details this week on his plan to increase taxes on the investments, income, and estates of the wealthiest Americans.
Source: Bloomberg)

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