Biden Targets Billionaires in Fiscal Year 2023 Budget
Under President Biden’s budget for fiscal year 2023, billionaires would face a new tax. Among other administration priorities, the new tax covers the 20 percent increase in funding for the Department of the Treasury. According to the budget proposal, released March 28, the president’s Fiscal Year 2023 budget “includes a 20 percent minimum tax on multi-millionaires and billionaires who so often pay indefensibly low tax rates.” Read More