After weeks of Democratic infighting over the price tag and feasibility of paying for Sen. Bernie Sanders’s (I-Vt.) $3.5 trillion budget, on Monday the House Ways and Means Committee released key information on its tax plan under the legislation. The tax plan would change the current flat rate corporations pay in taxes to a marginal tax scheme, with rates as high as 26.5 percent at the highest threshold of revenue, and would dramatically increase marginal tax rates for individuals, trusts and estates, and capital gains.
Some Democrats have previously expressed concerns on how the bill would be financed.
