(C) Common Dreams
This story was originally published by Common Dreams and is unaltered.
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Biden’s Billionaire Tax and Budget Proposals Enjoy Widespread Voter Support [1]
['Timothy Bresnahan', 'Sabrina Jacobs']
Date: 2023-03-23
By Grace Adcox and Suhan Kacholia
President Biden recently released his budget proposal for the upcoming fiscal year. His recommendations for spending and taxation align with the keystone issues of his presidency — namely, continuing his focus on climate policy and ensuring that the economy works “from the bottom up, and from the middle out” through holding the wealthiest accountable while generating cost savings for American families.
Recent Data for Progress polling finds support across party lines for major components of Biden’s budget proposal. To reduce the federal deficit, voters support policies to raise taxes and strengthen enforcement on the wealthiest Americans, in contrast to Republican attempts to cut vital programs like Medicaid. In addition, voters support the president’s proposals to tackle climate change and reduce energy costs for all Americans.
Notably, Biden included a “billionaire tax” as part of his latest budget proposal. The tax would require the wealthiest Americans to pay at least 25 percent in taxes on all wealth over $100 million, helping cut the deficit and fund federal programs. Voters support the tax by a +43-point margin, including an overwhelming majority of Democrats (+78-point margin). Majorities of Independents (+45-point margin) and Republicans (+9-point margin) also support the “billionaire tax,” demonstrating the proposal’s bipartisan appeal.
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[1] Url:
https://www.dataforprogress.org/blog/2023/3/23/bidens-billionaire-tax-and-budget-proposals-enjoy-widespread-voter-support
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