President Joe Biden supports a Senate Democratic plan to tax billionaires, White House Press Secretary Jen Psaki said Wednesday – although she stopped short of saying whether the major revenue-raiser would even be in a final reconciliation bill.
Psaki made the decision shortly before a report that House Ways and Means Chairman Rep. Richard Neal said negotiators had dropped the idea. Senate Finance Committee Chairman Ron Wyden chimed in with his own view: 'Last time I looked, the United States Senate has a say, too. We’re continuing to work with members,' he said, Business Insider reported.
She also vouched for the legality of the proposal for the government to get at the vast fortunes amassed by about 700 people – whose wealth resides in huge stock holdings they have sometimes held for decades.
President Joe Biden supports a Senate Democratic plan to tax billionaires, White House Press Secretary Jen Psaki said Wednesday – although it was unclear if it is part of a Build Back Better package being negotiated
'We're not going to support anything we don't think is legal. But I will tell you the president supports the billionaire's tax. He looks forward to working with Congress and Wyden to make sure the highest income Americans pay their fair share,' she