The billionaire tax.

Earlier this week, Democrats released a new proposal that they said will help them pay for their infrastructure and reconciliation bills: A billionaire income tax (BIT). The legislation was drafted by Senate Finance Committee Chairman Ron Wyden (D-OR), who said the new bill would impact about 700 billionaires who earn "over $100 million in annual income for three consecutive years or who have more than $1 billion in assets," according to CNBC. Wyden says the changes would raise hundreds of billions of dollars in new revenue.Our newsletter is written by Isaac Saul, edited by Bailey Saul, Sean Brady, Ari Weitzman, and produced in conjunction with Tangle’s social media manager Magdalena Bokowa, who also created our logo.The podcast is edited by Trevor Eichhorn, and music for the podcast was produced by Diet 75.You can support our podcast by clicking here.--- Send in a voice message: https://podcasters.spotify.com/pod/show/tanglenews/message Hosted on Acast. See acast.com/privacy for more information.