Published 2 years ago

U.S. Congress panel corrects tax rates for wealthy under Biden's proposal

Summary by Reuters

Americans with incomes over $1 million would see their taxes rise under President Joe Biden's "Build Back Better" bill, the U.S. Congress' Joint Committee on Taxation said on Tuesday, correcting an earlier analysis that their taxes would fall. Under the bill passed last week by the House of Representatives and now being considered by the Senate, those with incomes of $1

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Reuters

U.S. Congress panel corrects tax rates for wealthy under Biden's proposal

WASHINGTON - Americans with incomes over $1 million would see their taxes rise under President Joe Biden's "Build Back Better" bill, the U.S. Congress' Joint Committee on Taxation said on Tuesday, correcting an earlier analysis that their taxes would fall. Under the bill passed last week by the House of Representatives and now being considered by the Senate, those with incomes of $1

2 years ago·United Kingdom

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The Hill

Biden plan would raise average tax rate for households above $1M: JCT

Households with income of at least $1 million would see their average tax rate increase in 2022 under House Democrats’ social spending and climate bill, according to a corrected report released by the Joint Committee on Taxation on Tuesday.

2 years ago·Washington, United States

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Bloomberg

U.S. Congress panel corrects tax rates for wealthy under Biden's proposal

2 years ago·United States

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Business Insider

Democrats are actually raising taxes on the ultrawealthy, even though they're keeping a Trump tax cut

The Joint Committee on Taxation first said Biden's economic plan will cut taxes for the rich, but in a major correction, said it will do the opposite.

2 years ago·United States

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