Just in Time For GOP-Controlled Congress, Obama Announces Tax on One-Percenters

Just days ahead of President Obama’s State of the Union on Tuesday, the White House has announced plans for a major tax overhaul which would raise rates on the nation’s wealthiest individuals and increase fees for financial firms while offering an assortment of tax breaks designed to help the nation’s struggling middle class.

In a media call with reporters on Saturday, an unidentified Obama administration official offered the broad strokes of the proposal. According to Reuters: also offered a thorough rundown of the various aspects of the White House proposal.

U.S. Senator Bernie Sanders (I-Vt.) welcomed news of the proposal.


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