by: Eric Galatas, Nebraska News Connection - May. 11, 2021
State News
President Joe Biden’s proposal to eliminate the lower-income tax rate on capital gains and stock dividends for America’s millionaires would affect less than one half of 1% of taxpayers, according to a new analysis by the Institute on Taxation and Economic Policy.
Amy Hanauer, executive director of the Institute, said the tax, meant to help pay for child care and other assistance for low-income workers, would impact an even smaller share of Nebraskans.
“I think what President Biden is betting on is that the wealthiest 0.2% of Nebraskans can afford to pay a little bit more so that everyone in Nebraska can have a better future for their kids, better access to child care, pre-K, college,” Hanauer asserted.