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Neil, the chairman of the U.S. House of Representatives Revenue Committee, was removed from consideration on the 27th in the process of negotiating a plan to increase revenues to finance President Biden’s tax system and spending bill on the taxation plan for the assets of the wealthy “Billionaire”. Said. The debate on revenue proposals that support the president’s economic policy is becoming more confusing.
Instead, he said the House of Representatives is discussing a plan to impose a 3% surcharge in addition to the maximum tax rate on wealthy people with an annual income of over $ 10 million.
President Biden
Photographer: Tom Brenner/Bloomberg
Meanwhile, Senate Finance Committee Chairman Weiden, who released details of the bill to tax billionaire assets this morning, said the bill had not been scrapped. Senators said they would have staff attend the bill’s briefing at night by the Senate Finance Committee. The White House explained that President Biden would support the billionaire tax.
US Senate Democratic Party Announces Details of High Net Worth Tax Increase-President Biden’s Policy Support
“No senator has made a statement close to the idea that’billionaire’s tax payments will continue to be zero or small,'” said Weiden. “We are with the members.” We will continue to work on it, “he said, denying Chairman Neil’s statement that the proposal had been removed.
The confrontation between Chairman Weiden and Neil highlighted the difficulty of an intra-Democratic agreement on revenue-increasing measures to finance the $ 2 trillion tax and spending bill. As the outlook for securing resources has become uncertain, the outlook for other revenue increase plans, such as strengthening disclosure of bank account information, has become fluid.
Democratic Party to strengthen account information disclosure-more than 1.15 million yen excluding salary and social allowance
Several Democrats, including moderate Democratic Senator Manchin, have expressed concern about taxation of billionaire assets, including for complicated enforcement.
Manchin told reporters today that Weiden’s proposal to target the unrealized gains of the wealthy is “complex.” He said it is not desirable to target only successful business owners who create many jobs and donate to philanthropy, rather than taxing a wide range of individuals with high net worth.
Senator Manchin
“It makes a lot of sense to put a decent burden on the wealthy,” said Democratic Senator Warner. “There’s a reason we only work on important tax systems every few years. It’s important to pack it up and make it right and right. “
Manchin pointed out that instead of the proposed tax increase for the wealthy, a minimum tax rate of 15% on high-income earners should be considered. He calls this tax a “patriotic tax.”
Original title:Democrats Clash on Billionaire Tax as Neal Rejects Plan (1)、Manchin Joins Skeptics of Plan to Tax Assets of Billionaires (2)（抜粋）
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