The president plans to release a proposal for corporate tax reform by the end of the month, according to senior administration officials on Friday, though details of the proposal remain murky.
On Monday, the president plans to outline in his federal budget some elements on individual tax tweaks including the expiration of the Bush-era tax breaks for high-income people and for the so-called “Buffett Rule.”
Named after legendary investor Warren Buffett, it would try to ensure that households that make more than $1 million pay at least 30 percent of their income in taxes. The officials said these tax changes would generate $1.5 trillion in additional revenue over the next decade.
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