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Senator Manchin Open To A Billionaire Wealth Tax


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Senator Manchin Open To A Billionaire Wealth Tax

According to the Washington Post, Senator Manchin (D) from West Virginia has stated his support for a billionaire wealth tax in the Build Back Better plan in a letter to the White House. The letter also included a list of spending and revenue proposals that he supports.

Senator Manchin criticized the wealth tax in October. The House version of the legislation did not include a wealth tax on billionaires. Sen. Kyrsten Sinema (D) from Arizona has stated she has concerns regarding taxation plans.

The article relies on anonymous sources.

The text for the House version is available online. The CBO released a cost estimate based on ten years of spending. There is proposed spending includes $1,270,000,000 for states to help rebuild schools that sunsets in 2025.

Critics site an approximate 2 trillion dollars of spending as excessive. Proponents cite the House and Senate overwhelmingly approved a military budget 4 times the size of this spending bill.
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