Democrats advance wealth-tax proposals amid revenue dispute
Democratic senators are advancing proposals to tax America’s wealthiest households; supporters project trillions in revenue while critics say the plans would raise far less and could harm the economy.
Democratic senators are pushing a series of proposals to tax the nation’s richest households, with backers estimating the measures could generate trillions in federal revenue. Opponents argue those revenue forecasts are overstated and warn the policies could produce negative economic consequences.