Biden proposes 20 pct minimum tax on wealthiest in White House budget plan

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Biden proposes 20 pct minimum tax on wealthiest in White House budget plan

STORY: Biden proposes 20 pct minimum tax on wealthiest in White House budget plan DATELINE: March 29, 2022 LENGTH: 00:02:10 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): JOE BIDEN, U.S. President 2. various of White House STORYLINE: The Biden administration on Monday proposed a new 20-percent minimum tax on the wealthiest, vowing to fix the tax code to ensure corporations and wealthy people "pay their fair share." "This minimum tax would apply only to the wealthiest 0.01 percent of households - those with more than 100 million U.S. dollars - and over half the revenue would come from billionaires alone," according to a White House fact sheet on President Joe Biden's budget for Fiscal Year 2023. SOUNDBITE (English): JOE BIDEN, U.S. President "Under my plan, as I said, no one making less than 400,000 U.S. dollars a year will pay an additional single penny in taxes. No one. If you don't make 400 grand, you're not going to pay a single penny in additional federal taxes. And the

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