Bloomberg: “Key House Democrat Richard Neal said a proposal to tax the assets of billionaires has been dropped in negotiations over revenue measures to pay for President Joe Biden’s social-spending bill, while a surtax on millionaires is under discussion, Bloomberg News reports.
“The House is discussing with the Senate the inclusion of a 3% surtax, on top of the top income rate, for those earning more than $10 million, Neal, chairman of the tax-writing House Ways and Means Committee, said Wednesday.”