The Bloomberg Tax Plan: What You Need to Know

The run-up to the 2020 presidential election has entered a new phase, as caucus goers in Iowa become the first to voice their opinions directly about the candidates they like. Michael Bloomberg was a late entrant to the presidential race, and the billionaire has worked to try to tell voters about the way he'd approach key issues.

One major issue among candidates this election season is tax policy, with many suggesting reversing all or part of the tax cuts that took effect in 2018. Bloomberg released his tax plan over the weekend, and it would introduce a number of tax increases that would likely result in the candidate himself paying higher taxes. Below, we'll go through the key parts of the new Bloomberg tax plan.

The 2020 presidential election campaign is moving into top gear. Image source: Getty Images.

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Source Fool.com