President Joe Biden’s massive social welfare and climate change bill – his Build Back America plan – would raise taxes on the lower- and middle-classes while giving lucrative breaks for the super-wealthy. That’s according to a new study by the left-leaning Tax Policy Center (TPC), a project of the Brookings Institution and the Urban Institute. The report offers an in-depth analysis of the tax increases that House Democrats want to see included in the multi-trillion-dollar legislation.
In addition, the Cato Institute’s director of tax policy studies warned the Washington Times that the plethora of new taxes would complicate the tax code, making tax avoidance easier for the super-wealthy.
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