Taxes
Biden’s Rescue Hasn’t Stopped States’ Tax-the-Rich Rally Call
- Democratic lawmakers look to tax hikes to address inequality
- Capital gains income is primary target for state tax increases
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President Joe Biden is sending a nearly $200 billion rescue to America’s state governments, effectively erasing any budget problems caused by the pandemic.
Yet that hasn’t squelched calls by Democratic governors and legislators in at least a half dozen states to raise even more cash by taxing their wealthiest residents, who emerged from the recession unscathed or wound up ahead. They’re promising to use the additional revenue to boost social services, like child care in Washington or education in Minnesota, and to cut taxes for lower-income residents in Pennsylvania.