A tax on billionaire wealth reportedly appeared toward the bottom of a list of spending and revenue proposals that Manchin backs. It is unclear if Manchin wrote a revenue estimate in his offer, according to the Post. ADVERTISEMENTThe tax on billionaires was reportedly part of Manchin’s $1.8 trillion package counteroffer the West Virginia Democrat presented to the White House before ending negotiations on Sunday. He said in October that he did not like the idea of targeting only the 700 wealthiest Americans to finance a large part of the party’s spending package. I don’t like the connotation that we’re targeting different people,” Manchin said when asked about Wyden’s legislation.

Source: Los Angeles Times December 24, 2021 14:43 UTC