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Rep. Pramila Jayapal teams with Sen. Elizabeth Warren on Ultra-Millionaire Tax

Rep. Pramila Jayapal, D-Wash., right, with Sen. Elizabeth Warren, D-Mass., at left, speaks during a news conference on Capitol Hill in Washington, Monday, March 1, 2021, to unveil a proposed Ultra-Millionaire Tax Act.
Susan Walsh
/
The Associated Press
Rep. Pramila Jayapal, D-Wash., right, with Sen. Elizabeth Warren, D-Mass., at left, speaks during a news conference on Capitol Hill in Washington, Monday, March 1, 2021, to unveil a proposed Ultra-Millionaire Tax Act.

 
U.S. Rep Pramila Jayapal (D-Wash.) has joined Sen. Elizabeth Warren (D-Mass.) and Rep. Brendan Boyle (D-Pa.) in introducing the Ultra-Millionaire Tax Act.

The act would tax wealth in excess of $50 million – 2 cents on the dollar for wealth in excess of $50 million but below $1 billion, and 3 cents on the dollar for wealth exceeding $1 billion.

In this interview, Jayapal, who represents the Seattle area in Congress, tells KNKX's Ed Ronco how bill sponsors would like to spend that revenue, how they plan to enforce tax collection, and why now seems like an unusually good time to tax the ultra-rich.

Ed Ronco is a former KNKX producer and reporter and hosted All Things Considered for seven years.