Progressive Caucus Action Fund
Big news: a bold new bill has just been introduced in Congress—and it could be a game-changer for economic fairness in America.
The Equal Tax Act is a major step toward fixing a tax system that currently gives the ultra-wealthy an unfair advantage. Right now, multi-millionaires and billionaires often pay lower tax rates than nurses, teachers, mechanics, and other working folks, simply because their income comes from investments, not wages. This bill would change that by making sure investment income and labor income are taxed the same way.
It's simple: if you work for a living, you shouldn't pay a higher tax rate than someone who lives off stock dividends.
This bill also closes some commonly-exploited tax loopholes the richest Americans use to pay less—but, importantly, the bill does not take away protections for family farms and small businesses.
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