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In a typical year, billionaires pay an average tax rate of 8%.
President Biden is calling on Congress to pass a billionaire minimum tax – so no billionaire pays a lower tax rate than a teacher or firefighter.
Under President Biden’s leadership, we’ve made real progress towards a fairer tax system.
His budget will continue this progress by making the wealthy and big corporations pay their fair share.
And, no one earning less than $400,000 will see their taxes go up by one penny.
Extreme MAGA House Republicans support repealing President Biden’s Inflation Reduction Act.
This would raise costs for families, offshore manufacturing jobs, protect wealthy tax cheats, and hurt American energy independence.
Care workers provide critical care to Americans, but they often struggle to make ends meet.
President Biden’s Executive Order will help improve the quality of long-term care jobs in this country so that Americas can get the high-quality care they deserve.
The leading House Republican budget proposal would cut programs hardworking Americans rely on by 22%.
That would mean longer wait times for Social Security and Medicare benefits, higher costs for child care and education, cuts to Medicaid and food assistance, and more.
Republicans in Congress want to make the Trump tax cuts permanent – without paying for them.
This would give an average tax cut of $175,000 per year to families making more than $4 million a year.
55 major companies paid $0 in federal income taxes in 2020 on $40 billion in profits.
Because of President Biden’s Inflation Reduction Act, they now have to pay a 15% minimum tax.
House Republicans want to eliminate this and let those corporations go back to paying $0.