WORLD Biden unveils reversal of Trump tax cuts for most wealthy


Biden unveils reversal of Trump tax cuts for most wealthy


17:13, April 28, 2021

US President Joe Biden wants to reverse his predecessor Donald Trump's tax cuts for the wealthy to pay for a huge middle class families spending plan, senior administration officials said Wednesday.

Combo photo shows former U.S. Vice President Joe Biden (L) and sitting President Donald Trump. (Xinhua)

Biden will use his speech to a joint session of Congress to unveil the $1.8 trillion American Families Plan, funded by ending Trump's tax cuts and closing loopholes used by the most wealthy to escape paying their share, officials said.

"The president will be proposing a set of measures to make sure the wealthiest Americans pay the taxes that they owe, while also ensuring that no one making less than $400,000 a year will see their taxes go up," one official, who asked not to be identified, told reporters.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue