Democrats look to hike taxes on the rich and corporations to pay for $3.5 trillion budget bill
CNN
House Democrats want to increase taxes on wealthy Americans and corporations to pay for their sweeping $3.5 trillion budget package.
The draft proposal, which could still change before it is expected to be officially released on Monday, calls for increasing the top marginal rate on individuals to 39.6%, up from the 37% rate set by the Republicans' 2017 tax cut law, according to a plan circulating Sunday and obtained by CNN. The rate would apply to individuals with taxable income over $400,000 a year and married couples filing jointly earning over $450,000 annually.
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