Summary
A proposal in Congress aims to give $3,000 payments to Americans with incomes of $150,000 or less. The plan would fund these payments through a new tax on billionaires, but it faces challenges in a Republican-controlled Congress.
Key Facts
- The proposal is called the Make Billionaires Pay Their Fair Share Act.
- It includes a 5% annual tax on billionaire wealth.
- The $3,000 payments are meant for individuals in households earning up to $150,000 a year.
- Additional funds from the tax would go to health care, housing, education, and child care.
- More lawmakers have joined as co-sponsors, including several Democrats and an Independent senator.
- No Republican lawmakers currently support the bill.
- The proposal has not moved forward in Congress due to lack of broad support.
