Democrats release details of proposed tax hike

Democrats release details of proposed tax hike

House Democrats detailed their proposed tax hike on Monday, calling for an increase in the corporate tax rate from 21% to 26.5%, a 3-centage-point surcharge on top earners and a capital-gains tax increase.

Lawmakers plan to vote in the House Ways and Means Committee this week on proposals that would raise trillions of dollars from corporations and high-income households.

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