Dem close to deal on Biden agenda. ‘Tax on the scrooge’

WASHINGTON, OCTOBER 25 – Democrats are close to an agreement on Joe Biden’s two socio-economic agenda packages, after yesterday’s meeting between the president and Joe Manchin, one of the two moderate senators who has so far held back his agenda. Speaker dem of the House, Nancy Pelosi, expects a vote next week. According to some US media, the Democrats could already reveal a change today to finance the president’s maxi agenda: no longer by increasing corporate taxes and those on income beyond 400 million dollars, but those on about 700 American billionaires. A modest that Manchin would also be in favor of. Currently, American scroungers do not pay taxes on their wealth accumulation, such as real estate, stocks, or works of art, because they do so only when they sell an asset. Under the dem proposal, the government will ask American billionaires to pay taxes on increasing the value of their fortune on an annual basis, regardless of the sale of the assets. Instead, they will be able to get deductions for annual losses. Biden’s two packages, one for infrastructure and one for education, health and climate, would however be reduced to an overall figure between 1,500 and 2,000 billion, against the initial 4,000. (HANDLE).

Source link

Leave a Comment