SharecloseShare pageCopy linkAbout sharingimage copyrightGetty Images
US President Joe Biden is reportedly set to propose a tax hike on the wealthiest Americans.
The proposal would raise the top marginal rate and increase taxes on investment gains for the rich.
ADVERTISEMENT
The tax rise would help pay for childcare and education, but would not be used for healthcare, according to reports.
The news triggered a selloff on Wall Street, with major indexes slipping during Thursday’s trading session.
Biden unveils ‘once in a generation’ spending planMinimum wage fight: ‘There’s no recovery without raising it’
The White House said the American Family Plan, which Mr Biden is expected to lay
ADVERTISEMENT