White House Press Secretary Jen Psaki on Wednesday clarified that President Biden's proposed tax hike would apply to people who earn $200,000 per year if they are married to someone who makes the amount.
The clarification significantly lowers the tax-hike threshold announced by Biden in an ABC News interview that aired Wednesday.
"Yes, anybody making more than $400,000 will see a small to a significant tax increase," Biden told George Stephanopoulos.
Biden added, "If you make less than $400,000, you won't see one single penny in additional federal tax."
"I may not get , but I'll get the Democratic votes for a tax increase. If we just took the tax rate back to what it was when [George W.] Bush was president - [when] the top rate paid 39.6 percent in federal taxes - that would raise $230 billion. Yet they're complaining because I'm providing a tax credit for child care for the poor, from middle class?" Biden said.
Biden said in the ABC News interview he would like to reform the filibuster so that senators must speak at length on the Senate floor to stall bills.
Democrats passed Biden's first major piece of legislation - a $1.9 billion COVID-19 stimulus package - without any Republican votes in the House or Senate by using a special budget reconciliation process that allowed for a bare majority in the Senate.
https://nypost.com/2021/03/17/biden-tax-hike-could-hit-people-earning-200k-white-house-says/
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