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Biden wants a fairer tax system. PHOTO: Reuters
An Indian woman became a minister for the first time in US history.
The new president of the United States, Joe Biden, is planning the biggest tax increase in 30 years, which will be included in the next package of aid for the economy. It will follow the $ 1.9 trillion recently approved, Bloomberg reports.
Expenditures are expected to be even higher in the next recovery program, prompting the government to turn to greater sources of funding. That’s why raising corporate taxes and taxing higher-income Americans are being considered.
According to the plan, corporate tax will rise from 21% to 28%, increasing income tax
will affect
winning
$ 400,000,
Property taxes and capital gains will be increased for people with incomes greater than $ 1 million per year. The White House has not yet ruled on the issue.
It reflects the key promises made by the Democrat during his election campaign. Therefore, Biden will adjust the tax cuts that Trump made in 2017. It mainly affected corporations and the wealthy, but not the middle class.
The increase includes the adoption of legislation that should take effect in 2022. It should generate revenues between 2 and 4 trillion. dollars at the end of the decade. According to Bloomberg, the planned changes are an opportunity to fund infrastructure and climate change projects, increase support for the poorest Americans, and achieve greater equity in the tax system itself.
In fiscal 2020, the US deficit reached a record $ 3.1 trillion and the public debt, $ 28 trillion, recalls Bloomberg.
Meanwhile, the Senate has approved Native American Deb Halland as the United States Secretary of the Interior. This is the first time in US history that an Indian representative has become a minister. Four Republican senators voted with their fellow Democrats in favor of Halland, which was approved by 51 votes to 40. It is the Netherlands.
representative
of the tribe
lagoon town
According to her official website, she is a 35th generation resident of New Mexico. The Ministry of the Interior is responsible for managing federal property. Decide how natural resources will be used and whether to authorize activities such as fracking. The ministry is also responsible for the government’s policy towards indigenous people.
In 2018, Deb Halland again made a historic breakthrough, becoming one of the first two Indigenous women to enter Congress. Her election as minister has been harassed by some industry groups, who say her position on environmental issues is often extreme. He is one of the biggest supporters of the new Green Deal, which calls for drastic measures to combat climate change and economic inequality. According to her, the climate crisis is “the challenge of our time.”
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