Billionaires income tax could pose challenges for Democrats as they search for ways to pay for their social spending agenda
CBSN
As Democrats work to figure out how to raise revenues to pay for their social spending agenda, a new tax on billionaires has emerged as a serious consideration, but it is already receiving opposition from Republicans and skepticism from some Democrats and tax policy experts.
Senate Finance Committee Chairman Ron Wyden of Oregon said he's set to unveil his billionaires income tax as early as Tuesday night. The proposal would apply to the roughly 700 wealthiest Americans: those worth $1 billion or who have an annual income of $100 million for at least three straight years.
"This is a billionaires income tax, it's not a wealth tax. It's a billionaires income tax," Wyden said Tuesday. "And we expect that these billionaires and there's something like less than 800, who made close to $2 trillion during the pandemic, would pay a tax, their fair share, every year just like nurses and firefighters."
Washington — The Supreme Court is set to consider Thursday whether former President Donald Trump is entitled to sweeping immunity from federal prosecution for conduct that occurred while he was in the White House, thrusting the justices into election-year politics in a historic case with significant ramifications for his legal and political future.
A bottlenose dolphin was found shot to death on a Louisiana beach last month and now authorities are offering a $20,000 reward for information that aids their investigation into the incident. NOAA's Office of Law Enforcement said the dead dolphin was found on West Mae's Beach in the state's Cameron Parish with multiple bullets lodged in its brain, spinal cord and heart.