US President Joe Biden intends to overturn his predecessor Donald Trump's tax cut policy by charging the richest to finance a spending plan for the middle classes and will unveil his $ 1.8 trillion American Families Plan to Congress. .
US Administration sources reveal this.
The plan, the source said, includes $ 1 trillion in investments and $ 800 billion in tax cuts that affect the middle classes.
"The president will propose a series of measures to ensure that the richest Americans pay their taxes and, at the same time, that no one who earns less than $ 400,000 a year sees their taxes increase," said the source, who asked. anonymity.
In particular, Biden intends to raise the maximum rate set by the US tax authorities from the current 37% to 39.6%, thus reversing Trump's fiscal policy, "closing any loopholes that may so far have allowed the wealthiest to evade their due share. ".
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