últimas notícias

(The top 1% represent people making over $413,000 a year and the bottom fifth includes those making less than $20,000, McBride said.)

Biden’s tax plan calls for a 39.6% top tax rate for the wealthiest Americans, up from the current 37%.

Biden also proposed nearly doubling the top tax rate on long-term capital gains for those with annual income of more than $1 million a year, and taxing assets with more than $1 million in appreciation upon the owner’s death.

The top federal rate on capital gains would rise to 43.4% from the current 23.8%, after factoring in a 3.8% surtax.

Meanwhile, the Biden administration — and Senate Democrats — would extend a recent expansion of the child tax credit, earned income tax credit, and child and dependent care tax credit.

More from Personal Finance:
The best ways to invest when inflation takes off
35.2 million families just got the first monthly child tax credit payment
Inflation could prompt largest Social Security COLA in decades

They would also fund two years of free universal preschool, create a national comprehensive paid leave program and expand Medicare to cover dental, vision and hearing costs, among other measures.

The Senate plan also calls for stronger tax enforcement. The Treasury Department estimates it can raise $700 billion over a decade, partly by cracking down on wealthy taxpayers who underreport income in opaque business structures.  

Democrats called for an increase in the corporate rate, from the current 21% established by the Tax Cuts and Jobs Act in 2017. The White House has proposed 28% and is working with other nations to establish a global minimum tax framework to avoid businesses fleeing to tax havens.

It’s unclear whether all these initiatives will wind up in the legislation Senate Democrats are working on or change as a bill is drafted.

Some tax experts are skeptical Senate Democrats can raise the $3.5 trillion based on policy ideas laid out in their framework, especially without higher taxes for those making less than $400,000. (Beyond taxes, Democrats would also raise revenue from measures like renegotiating Medicare prescription drug prices.)