Biggest Tax Hike on Wealthy Since ‘93 Is Bogged Down in U.S. Congress

Biggest Tax Hike on Wealthy Since ‘93 Is Bogged Down in U.S. Congress

(Bloomberg) — Wealthy Americans wondering how much more taxes they’ll owe after Democrats pass their sweeping social-spending package may have to wait until deep into the fall, or later, to find out.

The tax-writing panels in the House and Senate had until Sept. 15 to finish writing the details of what would amount to the biggest tax-hike package since 1993. Those details are part of a legislative push that incorporates Democrats’ plans for ramping up spending on initiatives including…


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