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POLITICO: Taxing The Top November 7, 2019 Taxing The Top BY BERNIE BECKER - 11/07/2019 A proposal Sen. Chris Van Hollen (D-Md.) and House Ways and Means member Don Beyer (D-Va.) are expected to unveil this morning would generate an estimated $635 billion in revenue over a decade, according to the Tax Policy Center, by tacking a 10 percentage-point surtax on all income exceeding $1 million for single filers and $2 million for married couples filing jointly. (The surtax wouldn’t be indexed to inflation.) The levy would apply to a taxpayer... More
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CNBC: Two Democrats come up with a new plan to tax income over $2 million November 7, 2019 Two Democrats come up with a new plan to tax income over $2 million BY YLAN MUI - 11/07/2019 Democrats are finding new ways to go after the wealthy. On Thursday, Sen. Chris Van Hollen of Maryland and Rep. Don Beyer of Virginia, both Democrats, released a plan for a new surtax on income over $2 million. “The millionaires surtax is a sensible plan to restore fairness to the tax code, fight the rise of inequality, and fund important priorities for the American people,” Beyer said in a statement. Th... More
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The Hill: Democrats unveil proposal for 'millionaires surtax' November 7, 2019 Democrats unveil proposal for 'millionaires surtax' BY NAOMI JAGODA - 11/07/2019 Rep. Don Beyer (D-Va.) and Sen. Chris Van Hollen (D-Md.) on Thursday rolled out a proposal for a “millionaires surtax,” amid a growing interest from Democrats in increasing taxes on the wealthy. “This is a bill designed to address two major problems of public policy: the lack of revenue, and inequality,” Beyer said on a call with reporters. “It’s a laser-focused solution that requires those who benefited the most fr... More
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Washington Examiner: Congressional Democrats propose 'Millionaires Surtax' November 7, 2019 Congressional Democrats propose 'Millionaires Surtax' BY NIHAL KRISHAN - 11/07/2019 Congressional Democrats released a proposal on Thursday to generate an estimated $635 billion in federal revenue over a decade by levying a 10-percentage point tax on incomes above $2 million for married couples or above $1 million for individuals. The “Millionaires Surtax,” introduced by Sen. Chris Van Hollen and Rep. Don Beyer, would only apply to the richest 0.2% of Americans, and the revenue would likely be u... More
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New Democrat Coalition Statement on Trump’s Decision to Begin the Withdrawal Process from the Paris Climate Accord November 6, 2019 President Trump announced the United States will begin the withdrawal process from the Paris Climate Accord, leaving America as the only nation to abandon the global effort to combat climate change. New Democrat Coalition (NDC) Chair Derek Kilmer (WA-06) and NDC Climate Change Task Force Co-Chairs Don Beyer (VA-08), Elaine Luria (VA-02), Sean Casten (IL-06), and Susan Wild (PA-07) spoke out on the Administration’s announcement that it would begin the legal process for withdrawal, and stressed th... More
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