WASHINGTON, Sept 11 — Two senior US Senate Democrats on Friday unveiled a proposal to impose a 2 per cent excise tax on corporate stock buybacks as lawmakers scrambled to find ways to finance President Joe Biden’s US$3.5 trillion domestic investment plan.
The proposal is among several floated by Wyden to boost government revenues, including imposing additional taxes on corporations that give out CEO pay that exceeds a certain multiple of the company’s average worker wages.hing to raise taxes on the wealthy and corporations to help pay the US$3.5 trillion bill.
Republicans are attacking Democrats over the bill as both parties position themselves for the 2022 mid-term elections which will determine control of Congress.e Ways and Means Committee, said Democratic tax hikes “could kill a million US jobs, raise fuel prices and leave America more dependent on foreign oil.”
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