Joe Biden Announces $1.8 Trillion 'Human Infrastructure' Proposal to Congress Partly Financed by Expanding Death Tax

Joe Biden Announces $1.8 Trillion 'Human Infrastructure' Proposal to Congress Partly Financed by Expanding Death Tax


President Joe Biden spoke to a joint session of Congress Wednesday to propose a $1.8 trillion “human infrastructure” proposal that comes with a myriad of tax increases, including expanding the death tax.

A breakdown of the tax adjustment from the officially named American Families Plan are as follows:

Raise the top income-tax rate to 39.6 percent from 37 percent Raise the capital gains and dividends tax to 39.6 percent from 20 percent for households making more than $1 million Raise the payroll and investment taxes each by 3.8 percent — the top rates on wages and the death tax would reach 43.4 percent from 23.8 percent Use the previous 3.8 percent increase to expand over other types of income currently uncovered like active income from S corporations making over $400,000 Adjust death tax to include unrealized gains as sold and thus taxable with an exemption of $1 million a person

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