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: What is a billionaires’ tax — and how would it work? Wyden’s new plan has answers.

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The prospect of a new “billionaires’ tax” is dawning while the chances dim for income tax and capital gains rate hikes on the rich. Democrats, meanwhile, continue to work out how to pay for a bill aimed at expanding the social safety net.

On Wednesday morning, Sen. Ron Wyden, chair of the Senate Finance Committee, shed light on the details of proposed “billionaire income tax” that, he says, is a “historic opportunity…to restore fairness to our tax code, and fund critical investments in American families.”

Now…

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