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Yellen Says White House Not Pursuing Wealth Tax, But Would Consider Proposals

Janet_Yellen_portrait Wall Street Journal earlier this month An analysis sent to the senator Bloomberg
  • * Raising the corporate tax rate to 28 percent from 21 percent
  • * Paring back tax preferences for so-called pass-through businesses, such as limited-liability companies or partnerships
  • * Raising the income tax rate on individuals earning more than $400,000
  • * Expanding the estate tax’s reach
  • * Raising the capital-gains tax rate for individuals earning at least $1 million annually. (President Biden, when on the campaign trail, proposed applying income-tax rates, which would be higher)