(FOX BUSINESS) – President Biden has repeatedly pledged to raise taxes on any American earning more than $400,000, but promised – as recently as this week – that no one making less than that will see "one single penny in additional federal tax."
But White House press secretary Jen Psaki clarified on Wednesday that Biden's proposed $400,000 threshold for tax increases applies to families, rather than individuals, meaning the hike could hit individuals who earn $200,000 a year if they are married to someone who makes the same amount. Psaki did not specify a threshold for individual earners.
Biden is eyeing the next big-ticket economic bill as a vehicle for one of the major tax hikes in close to 30 years, according to Bloomberg News, citing a person familiar with the matter.
The post Biden's proposed tax hike could hit Americans earning $200,000 appeared first on WND.
