US President Joe Biden has planned the first significant tax hike in 28 years, Bloomberg writes, citing sources.
The money is needed to finance a long-term economic program, which should follow the third package of state support for $ 1.9 trillion. Among the measures discussed are an increase in corporate tax from 21 percent to 28 percent and the elimination of tax incentives for limited liability companies (LLC).
Biden also intends to raise income taxes for those who earn more than $ 400,000. A higher capital gains tax rate for people earning at least a million dollars a year is also being discussed. Biden has always believed that Americans want a fairer tax policy, so he focused on fighting inequality, the newspaper writes.
Earlier, Biden signed a $ 1.9 trillion rescue plan for the American economy. About 85 percent of American households will receive direct payments of $ 1.4 thousand per person. The deadline for the $ 300 Weekly Unemployment Benefit Supplement will also be extended until September 6.
In early March, a group of American senators led by Elizabeth Warren proposed introducing a tax in the country for the super-rich. For billionaires in the United States, the initiative could result in multibillion-dollar annual tax payments.