filmov
tv
Biden Promises Tax Hikes on the Wealthy to Pay for American Families Plan
Показать описание
President Joe Biden unveiled on Wednesday a sweeping $1.8 trillion plan to expand educational opportunities and child care for families, funded in part by the largest tax increases on wealthy Americans in decades -- the centerpiece of his first address to a joint session of Congress.
Called the American Families Plan, Biden’s third major legislative proposal combines $1 trillion in spending with $800 billion in tax cuts and credits for middle- and lower-income families.
The plan would make pre-kindergarten and community college free across the country, extend the child tax credit through 2025 and make permanent an expansion of the earned income tax credit to childless adults with low incomes, provide direct support to families for child care, finance teacher training and create a national paid family leave program.
The proposal follows on the heels of a $2.25 trillion infrastructure plan that has yet to be taken up by Congress and a $1.9 trillion pandemic relief plan that Biden has signed into law. Together, the measures would remake the U.S. tax code and social welfare programs, vastly expanding federal support even for families that consider themselves upper-middle class while substantially shifting the overall tax burden to the wealthy.
“The president has been clear that our tax system is broken when a hedge fund manager making hundreds of millions of dollars is paying taxes at a lower rate than the janitor working in his office or the housekeeper at his mansion,” White House senior adviser Anita Dunn wrote Tuesday in a memo obtained by Bloomberg News. “And he’s going to take steps -- steps which are supported by the American public -- to address the fairness in the tax code.”
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
Called the American Families Plan, Biden’s third major legislative proposal combines $1 trillion in spending with $800 billion in tax cuts and credits for middle- and lower-income families.
The plan would make pre-kindergarten and community college free across the country, extend the child tax credit through 2025 and make permanent an expansion of the earned income tax credit to childless adults with low incomes, provide direct support to families for child care, finance teacher training and create a national paid family leave program.
The proposal follows on the heels of a $2.25 trillion infrastructure plan that has yet to be taken up by Congress and a $1.9 trillion pandemic relief plan that Biden has signed into law. Together, the measures would remake the U.S. tax code and social welfare programs, vastly expanding federal support even for families that consider themselves upper-middle class while substantially shifting the overall tax burden to the wealthy.
“The president has been clear that our tax system is broken when a hedge fund manager making hundreds of millions of dollars is paying taxes at a lower rate than the janitor working in his office or the housekeeper at his mansion,” White House senior adviser Anita Dunn wrote Tuesday in a memo obtained by Bloomberg News. “And he’s going to take steps -- steps which are supported by the American public -- to address the fairness in the tax code.”
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
0:00:56
Biden Promises Tax Hikes on the Wealthy to Pay for American Families Plan
0:00:50
Biden's Tax Increase Would Hit People Earning Over $400,000 the Hardest
0:03:53
Joe Biden promises no new taxes for those making under $400K, also NJ to hike tax on millionaires
0:00:49
Biden’s Planned Tax Hike to Target People Earning Over $400,000 Hardest
0:00:49
Biden’s Proposed Tax Hike Will Hit People Earning Over $400,000 the Hardest
0:00:25
Trump v. Biden: Taxes
0:03:08
How Biden’s Corporate Tax Hike Will Hurt The Middle Class - Steve Forbes | What's Ahead | Forb...
0:01:57
Biden vows to raise taxes on anyone earning more than $400,000
0:01:51
Joe Biden Talks Tax Cuts, Income Inequality | NBC News
0:16:29
Biden Promises To RAISE Taxes At Campaign Rally, Democrats Praised For LYING About Trump Tax Cuts
0:01:17
Biden Won't Raise Taxes on Anyone Making Less Than $400,000
0:06:08
Biden's tax hike may hit more US households than expected
0:10:29
Biden Breaking Campaign Promises on Tax Cuts?
0:03:44
'I'm Gonna Raise Some Taxes': Biden Promises To Raise Taxes On The Ultra-Wealthy
0:00:46
Biden proposes 20% tax on households worth over $100 million
0:01:57
Biden budget proposal includes tax hikes for top earners
0:00:41
FACT: President Biden Wants to Increase Tax on American Families
0:08:18
Report: Biden Planning 1st Major 'Tax Increase' in 30 Years
0:17:07
Biden outlines $2.25 trillion infrastructure plan funded by corporate tax hike
0:01:53
Biden planning first major tax hike in almost 30 years
0:01:18
President Biden Promises To Raises Taxes On Wealthy In Discussion Of His $6.8 Billion Budget
0:02:30
Biden in Pittsburgh: No One Making Under $400,000 Will See Federal Tax Hike
0:03:02
Joe Biden Vows to Roll Back Trump's Tax Cuts for Wealthy | NowThis
0:03:52
Rep. Hakeem Jeffries on President Biden's new taxes on high-income Americans
Комментарии