A billionaire tax? Don’t bet on it
The political makeup doesn’t bode well for passing major tax legislation — and a bill that imposes a specific levy on billionaires would be substantial.
Editor's note: In the second paragraph, the percentage change the proposed tax rate represents has been corrected.
President Joe Biden may have called for a tax on billionaires in his State of the Union address last month, but the idea is unlikely to travel from his speech into law.
Biden pitc
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