‘Billionaires income tax’: What we know about Sen. Ron Wyden’s plan

Sen. Ron Wyden, D-Ore., has introduced a new “billionaires income tax” that would force the wealthy to pay taxes each year as their assets grow rather than waiting until they sell off their holdings.

Wyden released the details of the proposal on Tuesday as Congress weighs how to pay for the bulk of President Joe Biden’s agenda: a vast expansion of the social safety net and improvements to physical infrastructure such as roads and bridges.

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