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Elizabeth Warren revives wealth tax plan alongside Washington’s Jayapal, seeking $3T over 10 years Geekwire 3/1/2021 Kurt Schlosser © Provided by Geekwire Sen. Elizabeth Warren during a campaign rally in Seattle in August 2019 when she was seeking the Democratic presidential nomination. (GeekWire Photo / Todd Bishop) Sen. Elizabeth Warren is back with a revived wealth tax plan that she first championed during her run for the 2020 Democratic presidential nomination. The Massachusetts Democrat unveiled her plan on Monday, now calling it the Ultra-Millionaire Tax Act, alongside Rep. Pramila Jayapal (D-WA) and Brendan Boyle (D-PA). The Warren-Jayapal-Boyle legislation, aimed at offsetting federal spending promised by the Biden administration and balancing inequality made worse by the COVID-19 pandemic, would levy a tax of 2 cents on the dollar, or 2%, on fortunes over $50 million. The rate would jump to 3 cents for households over $1 billion.

New yorkUnited statesBill gatesElizabeth warrenJeff bezosElizabeth warren senwarrenBrendan boyleTodd bishopPramila jayapal pramilajayapalGeekwire senNew york timesInstitute for policyGeekwire photoMassachusetts democratUltra millionaire tax actPramila jayapal