Democrats are pushing for novel taxes on billionaires, but face challenges after a Supreme Court ruling raised constitutional concerns. Corporations are also impacted as the 2025 tax debate intensifies. Senator Wyden defends the constitutionality of the Billionaires Income Tax, while some tax professionals express doubts. RSM's Don Susswein sees potential for future congressional action post the Moore v. United States ruling.
Opinion: RSM's Don Susswein analyzes the opinion in Moore v. United States, saying the decision's wording suggests future congressional action is possible. https://t.co/vxx4NdHC0v
NEW: Wyden on Friday said there's "no question" about the constitutionality of his Billionaires Income Tax after the Supreme Court's Moore ruling. Some tax pros, though, said the decision may spell doom for wealth tax proposals. https://t.co/hy5v1RPCVL
Democrats’ tax-the-rich agenda, the cornerstone for their 2025 tax cliff plans, faces greater hurdles after last week’s Supreme Court ruling. https://t.co/i0AFhObNQZ
Corporations face reversal of fortune as 2025 tax debate heats up https://t.co/y7tzzWAIkg
Democrats coalesced around novel taxes on billionaires. A Supreme Court ruling renewed questions over whether that is constitutional. https://t.co/5IbFmf0riS https://t.co/5IbFmf0riS