Biden Proposes Tax Hike On Wealthy To Pay For Families Plan

File: President Joe Biden (AP Photo/Evan Vucci)

President Biden will use his first address to a joint session of Congress to call for raising taxes on the wealthiest to pay for the American Families Plan.

The one-point-eight-trillion-dollar plan would invest billions of dollars in child care, paid family leave, and education. It would nearly double the capital gains tax to 39-point-six percent for people earning more than a million dollars a year.

The plan also would raise the top marginal income tax rate back to 39-point-five percent. The Republicans’ 2017 tax cut lowered it to 37-percent.

Harris County Sheriff Is Biden’s Choice To Lead ICE

Previous article

CDC Loosens Recommendations On Facemasks Outdoors

Next article

You may also like