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Sen. Markey Introduces Equal Tax Act

Bailey Malota

WASHINGTON, March 27 -- Sen. Edward J. Markey, D-MA, has introduced the Equal Tax Act, aimed at reforming the Internal Revenue Code to create parity between capital gains and earned income taxation. This legislation seeks to address income inequality by modifying how capital gains are taxed, particularly focusing on higher-income earners.

The Equal Tax Act proposes significant changes to tax treatment, establishing that preferential rates for capital gains and dividends would only a . . .

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