What’s in Democrats’ Tax Plan? Wealthy, Companies In Their Sights
- Ways and Means Committee proposal would raise top tax rates
- Committee set to consider package on Tuesday and Wednesday
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The House Ways and Means Committee on Monday released the most detailed picture yet of the tax overhaul that Democrats are designing to help pay for a major expansion in spending on social programs -- the bulk of President Joe Biden’s longer-term economic plan.
The House panel, the traditional origin of tax legislation in Congress, issued draft text that’s aimed for inclusion in a broader bill Democrats pushing forward without Republican support. Other committees are handling other aspects of what could be a $3.5 trillion, 10-year spending package.