In his second State of the Union address on Feb. 7, President Joe Biden urged billionaires and corporations to “pay their fair share,” repeating the administration’s concept of “reward work, not just wealth.” The president proposed instituting a minimum tax on billionaires and quadrupling the stock buyback tax. “Let’s finish the job. Reward…
Biden Pushes Billionaire Tax, Quadrupling Stock Buyback Levy in State of the Union Address
February 8, 2023
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Senate Democrats Unveil Bill to Tax Stock Buybacks
Two senior Democrat senators on Friday introduced a legislative proposal that would levy a 2 percent tax on corporate stock buybacks, a move that comes as Democrats scramble to fund the Biden administration’s $3.5 trillion spending plan. Sens. Ron Wyden (D-Oregon) and Sherrod Brown (D-Ohio) said in a joint statement that the draft bill, called…
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