President Biden’s proposed changes to the Internal Revenue Code, known as the American Families Plan, was unveiled at the end of April 2021. These changes are intended to accomplish three goals: (1) fund the government’s efforts against the pandemic, (2) support new social programs, (3) enable tax cuts for lower-income families. The measures aim to ensure that the wealthiest Americans pay their “share” in taxes...

Originally published in Lloyd Harbor Life June 2021.