Alva Review-Courier -

By JOSH BOAK 

Biden budget seeks minimum tax on households worth $100m

 

March 27, 2022



WASHINGTON (AP) — President Joe Biden intends to propose a minimum tax of 20% on households worth more than $100 million and cut projected budget deficits by more than $1 trillion over the next decade, according to a fact sheets released Saturday by the White House budget office.

The introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code. It would apply to the top 0.01% of households with half of the expected revenue coming from households worth $1 billion or more. The minimum tax would effectively prevent the wealthiest slive...



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