‘Billionaires Tax’ Pitched Ahead of Key Supreme Court Case (1)

Senate Finance Committee Chair Ron Wyden (D-Ore.) introduced a bill Thursday taking aim at assets owned by the wealthiest Americans, the latest in Democrats’ push to spotlight tax avoidance techniques among the rich.

The Billionaires Income Tax bill would impose an annual levy on the appreciation of assets like stocks and bonds, and it includes rules aimed at deterring tax avoidance. It also proposes applying a levy on harder-to-value non-tradeable assets, like real estate when there’s a sale.

The bill was unveiled Thursday with 15 Democratic cosponsors, including Sheldon Whitehouse (D-R.I.) and Elizabeth Warren (D-Mass.), who have been outspoken in ...