Article #253097

Make billionaires pay their fair share act would apply to those with a net worth of $1bn or more

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Senator Bernie Sanders and Ro Khanna, a representative, on Monday introduced legislation that would impose a 5% annual wealth tax on America’s billionaires.

The proposal, titled the make billionaires pay their fair share act, would apply to individuals in the US with a net worth of $1bn or more, of which Sanders’s office estimates there are 938 people who meet that threshold.