'Billionaires tax' tension threatens to sap Dems' momentum for $1T-plus deal


Speaker Nancy Pelosi and her Democratic leadership team are confronting a new wrinkle in their social spending talks as they ramp up their sales pitch to their caucus: a proposed tax on billionaires.

The idea is straightforward enough. In the final days of frenetic dealmaking on the party’s roughly $1.5 trillion spending bill, Senate Democrats are hoping to use the billionaires tax as a partial financing replacement for tax increases opposed by moderate Sen. Kyrsten Sinema (D-Ariz.).

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