Biden to announce tax on billionaires in 2023 budget plan – report

President's tax on richest 700 Americans' may face opposition from conservative Democrats

Joe Biden is set to announce a tax aimed at US billionaires as part of his 2023 budget plans on Monday in a move that will likely delight many progressives in his party but could meet opposition from conservative Democrats who have already stymied his domestic agenda.

The Washington Post, citing five sources and an internal administration document, said the billionaire minimum income tax" plan would establish a 20% minimum tax rate on all American households worth more than $100m.