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Billionaire tax takes shape as Biden pushes for budget deal

Billionaire tax takes shape as Biden pushes for budget deal Photo: WDIO/MGN

Associated Press
Created: October 25, 2021 04:56 PM

WASHINGTON (AP) — Democrats are working frantically to shore up the revenue side of President Joe Biden’s domestic package. They are preparing to unveil a new tax on billionaires and some companies after earlier ideas fizzled. Biden said Monday he’s hopeful the talks with Congress can wrap up overall agreement this week, before he departs for global summits.

It’s tallying at least $1.75 trillion for expanding social services and climate change strategies, and could still be more. Democrats want the package to be fully paid for, with no debt.

Biden traveled to New Jersey to promote the child care provisions and a related infrastructure bill.

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Associated Press

Copyright 2021 The Associated Press. All rights reserved.

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