Tax Watch! New Video Unpacks Sen. Wyden’s New ‘Wealthy’ Income Tax Act Aimed at Entrepreneurs, Successful Individuals, and Family Business


Intended to Close Loopholes, the Act will Likely Hurt More Than it will Help


New Video with Brownstein Tax Expert Russ Sullivan Details Faults with New Tax Plan

Late last year, Sen. Ron Wyden (D-OR), chairman of the Senate’s tax-writing committee, introduced his Billionaires Income Tax Act (S. 3367), an updated version of his mark-to-market proposal. The proposed wealth tax, designed to close tax “loopholes,” will likely penalize entrepreneurs, successful individuals, and family businesses across the country.

A new video, featuring Policy and Taxation Group tax expert Russ Sullivan, chair of the National Tax Policy Group at the Brownstein law firm, helps unpack the major issues in Sen. Wyden’s tax proposal. Sullivan details how this new “wealth tax” would be unworkable, limit liquidity, disrupt markets, create massive tax bills, and limit savings and business investment.

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