Sen. Elizabeth Warren unveiled a plan to impose a 7 percent surcharge on corporations making more than $100 million, the second major tax proposal of her campaign
She predicted it would raise at least $1 trillion over a decade, which would increase projected corporate tax receipts by about 30 percent. It would amount to not only rescinding much of Republicans’ recent corporate tax cut but would likely leave some companies paying more than they did before the Tax Cuts and Jobs Act.Sign Up
The proposal comes as Warren has established herself as the policy maven of the Democratic presidential primary. She’s previously called for a new wealth tax on the rich. Warren did not say what she would do with the money raised. She earmarked some of the $2.75 trillion her wealth tax is predicted to raise to pay for a universal child care program.
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