© Reuters. FILE PHOTO: U.S. House Ways and Means Committee Chairman Richard Neal (D-MA) speaks to reporters as House Democrats hold a news conference ahead of the final House passage of the Biden administration’s $1.9 trillion coronavirus disease (COVID-19) relief b
WASHINGTON (Reuters) – A proposal to tax the assets of billionaires is now out of consideration as a way to pay for President Joe Biden’s social spending and climate plan, U.S. House Ways and Means Chairman Richard Neal said on Wednesday, according to Bloomberg News. House lawmakers are instead discussing a 3% surtax – on top of the top income rate – for those earning more than $10 million, Neal said, according to Bloomberg.
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