US President Joe Biden is going to propose a minimum income tax of 20% for households worth more than $100 million, CNBC reported, citing a draft document.
Households worth more than $1 billion will bring in more than half of the tax revenue, the channel estimates. Also, in just 10 years, such a tax will help the US government earn regarding $360 billion.
“Thanks to this minimum tax, the richest Americans will not pay at a tax rate lower than that of teachers and firefighters,” the text of the document is quoted by the TV channel (quoted by RIA Novosti).
According to the channel, the offer will be officially announced on March 28.
