House tax bill would hit the middle class hard

A new congressional report shows that the tax increase bill approved by the House Ways and Means Committee would increase taxes on millions of taxpayers making less than $400,000. That would violate a pledge President Joe Biden has made repeatedly.

The House tax bill would raise taxes by $2.1 trillion, making it the largest peacetime tax increase in U.S. history. It contains 45 separate tax increases and would raise taxes on individuals, small businesses, companies, family farms, and other estates. Analysis by the nonpartisan Joint Committee on Taxation shows that a substantial number of taxpayers at all income levels would pay more in taxes.