President Biden’s $2 trillion spending package continues to stall as senior Democrats are hoping to finalize a proposal on a new annual tax on billionaires’ unrealized capital gains, Democratic leadership has indicated. “We probably will have a wealth tax,” House Speaker Nancy Pelosi (D-Calif.) confirmed Sunday on CNN. The proposal, which is being reviewed by Senate Finance Committee Chairman Ron Wyden (D-Ore.), would impose an annual tax on unrealized capital gains on liquid assets held by billionaires, Treasury Secretary Janet Yellen said.
Categories: Democrats, Joe Biden, Kevin McCarthy, Nancy Pelosi, Taxation and Finance