Big Questions, Simple Rejections | Tax Policy Center

Will a trillion dollar infrastructure bill be President Biden’s high-water mark? The latest CQ Roll Call Capitol Insiders Survey of Hill staffers suggests Congress may pass a $1 trillion infrastructure bill… but it may be the last item on Biden’s legislative agenda that makes it through.    

What about a one-time tax on wealth? The Hill reports that Democratic Rep. Tom Suozzi is exploring a “patriot tax” of 2.5 percent on wealth between $50 million and $100 million and a 5 percent tax on  $100 million or more, payable over five years. Suozzi’s office estimates the tax could raise $450 billion. 

In Israel: New budget timeline, no new taxes. Israeli’s finance minister Avigdor Lieberman says the new government will enact a two-year budget for 2021-2022, ending years of month-to-month budgeting. He added, “There will be no tax hike. We oppose a tax hike.”

Conservatives in Germany: Also, no new taxes. The alliance of the Christian Democrats and Bavarian Christian Social Union parties will unveil their platform next week ahead of a Sept. 26 federal election. The platform rejects tax increases, would reduce the number of Germans who  pay the top federal income tax rate of 42 percent, and abolish the solidarity tax that supports  poorer states from the former East Germany. But the Greens and co-governing Social Democrats would raise the top income tax rate, cut taxes on small- and medium-income households, and impose a wealth tax.

Switzerland: No new carbon tax. In a weekend election, Swiss voters narrowly rejected a proposed “carbon dioxide law.” It would have raised fees and taxes on fuels that produce greenhouse gases and strengthened a current law aimed at reducing CO2 emissions by 2030.

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