Democrats' sweeping midterm victories have renewed momentum for taxing the wealthy on a national level. Sen. Ron Wyden, D-Ore., who is set to retake control of the Senate Committee on Finance, has already put billionaires on notice. Several proposals are already before the committee, including measures to close the carried-interest tax break and impose taxes on large trust assets. "On taxes, the committee will redouble its efforts to ensure billionaires pay their fair share and hold tax cheats accountable. Democrats will spearhead a tax agenda that puts American families first and requires the ultra-rich and corporations to pay their fair share," Wyden said in a statement Wednesday morning.
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