09-May-2025
Economy News
 
Republican proposal to hike tax on millionaires to generate $400 bn
22-Apr-2025

A Republican proposal to impose a tax hike on millionaires offers to generate about $400 billion over a decade, according to two new estimates provided to Bloomberg News, providing fresh revenue to partially offset the cost of the party’s multi-trillion-dollar tax package. The Budget Lab at Yale projects that taxing income over $1 million at a 40 per cent rate would generate $420 billion over a decade.

News Source:- https://www.business-standard.com/world-news/millionaire-tax-would-generate-about-400-billion-in-revenue-over-a-decade-125042200120_1.html
 
 
 

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