Bernie Sanders and Senate Democrats declare struggle on the rigged tax legal guidelines with two new payments
Senate Budgets Committee Chairman Bernie Sanders and four top Democrats have introduced new laws to regulate the rigged American tax law.
According to a statement from Sen. Sanders’ office to PoliticusUSA:
The For the 99.5% Act is a progressive estate tax on the wealth of the top 0.5 percent of Americans, while the Corporate Tax Dodging Prevention Act removes tax breaks and loopholes that encourage companies to move jobs and profits offshore.
The For the 99.5% Act establishes a new progressive estate tax rate structure for the top 0.5% of Americans who inherit wealth over $ 3.5 million. This bill also includes the termination of tax breaks for dynasty trusts; Closing other gaps in estate and gift taxes; and protection for family farmers by reducing the value of their farmland for estate tax purposes by up to $ 3 million.
The Corporate Tax Avoidance Prevention Act would generate over $ 2.3 trillion in revenue by preventing companies from moving their profits overseas to avoid paying US taxes. It would also reset the highest corporate tax rate to 35% – where it was before Trump became president.
The ideas in these calculations are not radical. The idea that the richest Americans and richest corporations in the nation should pay their fair share is a belief held by the vast majority of the American people.
The bills are co-sponsored by Sens. Kirsten Gillibrand (DN.Y.), Sheldon Whitehouse (DR.I.), Chris Van Hollen (D-Md.) And Jack Reed (DR.I.), which is not exactly the case a collection of Senate liberalism, as this group of senators shows the attraction to the democratic caucus of tax justice.
President Biden wants to raise taxes for the richest Americans, and the Senate Democrats, along with Bernie Sanders, are ready for a war to regulate the nation’s rigged tax laws.
Mr. Easley is the Founder / Senior Editor, White House Press Pool, and a Congressional Correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public order with a specialization in social reform movements.
Awards and professional memberships
Member of the Society of Professional Journalists and the American Political Science Association