August 10 2022
Top House Democrats have introduced the
Billionaire Minimum Income Tax Act, which would enact
President Joe Biden’s proposal to require households worth over $100 million to pay at least a 20% tax rate on their full income, including unrealized gains.
The bill has 32 co-sponsors and was introduced by Reps. Steve Cohen, D-Tenn., and Don Beyer, D-Va., chairman of the Joint Economic Committee in late July. The lawmakers said they introduced the bill “after extensive consultation with the White House and Treasury Department officials.”
More than likely, republicans will block it.
Sure and leave the millionaires and corporations alone, just like republicans want.