'What is really needed is higher progressive taxation, including a wealth tax,' Congressman Ro Khanna told Newsweek.
must address the growing gap between them and the wealthy. The potential new tax on corporations contained in the Schumer-Machin bill could be a step in that direction.
"What is really needed is higher progressive taxation, including a wealth tax," Khanna said, drawing on ideas from French economist Thomas Piketty, who last month spoke before the Congressional Progressive Caucus."That would be deflationary because you wouldn't need the Fed expanding the monetary supply."
The funding being put toward climate change in the Schumer-Manchin measure could ultimately become a concrete example of this strategy playing out. However, the bill still faces a major hurdle beforeWhile the bill only needs 51 votes to pass, rather than the usual filibuster-proof 60, moderate Democratic Senatorof Arizona, who stood in the way of efforts to pass BBB, has previously opposed any new corporate tax hikes, and it remains to be seen how she will approach the Schumer-Manchin bill.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
‘Getting Rolled’: McConnell Was Outfoxed With His Own PlaybookFor years, Democrats watched Mitch McConnell deploy ultra-partisan legislative tactics to outmaneuver them on everything from fiscal cliff negotiations to filling a SCOTUS seat. This week, Senate Republicans may have gotten a taste of their own medicine.
Consulte Mais informação »
What tax hikes are in the Manchin-Schumer reconciliation bill?Sens. Chuck Schumer and Joe Manchin rolled out a proposal this week that would raise an estimated $739 billion over the next decade for health care and climate change initiatives.
Consulte Mais informação »
Schumer rallies Democrats after surprise deal with Manchin on health care, climate changeSenate Majority Leader Chuck Schumer has told fellow Senate Democrats they now have an opportunity to achieve two “hugely important” priorities on health care...
Consulte Mais informação »
What You Need To Know About The Manchin-Schumer Tax And Climate CompromiseThe measure, called the Inflation Reduction Act, includes major new spending and tax subsidies for energy production, a 15 percent minimum tax on the income large corporations report to their shareholders, and a substantial boost in IRS enforcement funding.
Consulte Mais informação »
Manchin and Schumer cut abrupt deal to hike taxes and spend on environment | New York PostIn an unexpected turn Wednesday, Sen. Joe Manchin and Majority Leader Chuck Schumer came to an agreement on legislation that would spend big on energy and cl...
Consulte Mais informação »
Joe Manchin says he has health, energy, tax deal with Chuck SchumerIn an unexpected turnabout, Sen. Joe Manchin has announced that he has reached an expansive agreement with Senate Majority Leader Chuck Schumer on health care costs, energy and climate issues, taxing higher earners and large corporations and reducing federal debt.
Consulte Mais informação »