White House to Propose New Minimum Tax on Billionaires

President Joe Biden announces new economic actions against Russia in the Roosevelt Room at the White House on March 11, 2022. (Chip Somodevilla/Getty Images)
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WASHINGTON—President Joe Biden will announce a new minimum tax targeting billionaires as part of his 2023 fiscal year budget on Monday, according to the White House.

The Biden administration announced the proposal on Saturday in a fact sheet ahead of the budget release, stating that the president’s plan “rewards work, not wealth.”

“President Biden’s Billionaire Minimum Income Tax will make America’s tax code fairer and reduce the deficit by about $360 billion in just the next decade,” the fact sheet stated.

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https://www.theepochtimes.com/white-house-announces-new-minimum-tax-on-…

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