October 6, 2021

Yahoo! Finance: Democrats’ tax plan makes ‘baby steps’ toward racial wealth equity

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By lifting up families at the bottom through tax credits and taxing affluent households more, Democrats can help narrow the racial wealth gap.

But their latest plan may not be ambitious enough, according to experts, after they scaled back some of President Joe Biden’s initial proposals.

“It’s baby steps,” Carl Davis, research director at the Institute on Taxation and Economic Policy, told Yahoo Money. “When you put them all together, they add up to a more meaningful package that would narrow racial wealth inequality. But the changes are more modest than they should be.” Read more