Biden’s Likely Tax Wins Are Personal-Rate Hikes, Audits of Rich

March 24, 2021, 11:56 AM

Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. tax code in coming months.

That’s a key takeaway from a survey of 15 current and former White House and congressional aides specializing in tax policy completed by Bloomberg this month. A tax on unrealized capital gains, as envisioned by Senate Finance Committee Chair Ron Wyden, was deemed impossible to get through Congress, the survey showed.

President Joe Biden is planning what would amount to the biggest set of tax increases since 1993 to ...

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