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WASHINGTON — House Democrats unveiled a new bill they say would force the wealthiest Americans to pay their fair share of taxes.

Rep. Steve Cohen (D-Memphis) introduced the new bill Thursday to enact President Biden’s proposal for a billionaires’ minimum income tax. He says the current tax code favors the wealthy.

“Billionaires are using that money to buy spaceships, sports teams and trying to buy Twitter, and sometimes, even buying elections,” Cohen said. “It is obscene.”

It would require taxpayers worth more than $100 million pay a minimum 20 percent tax on their capital gains each year, regardless of whether they sold assets for a profit or continue to hold them.

Cohen argues those tax dollars could improve health care, child care and education.

But Republicans aren’t sold.

“They always have to have a bogeyman,” said Rep. Bruce Westerman (R-Ark.) “It’s gonna be the billionaires or the big oil companies. They never want to take responsibility for their actions.”

Westerman says Democrats’ policies are already driving inflation. Instead of looking at tax reform, he argues Congress should focus on issues like domestic energy production.

“They try to say it’s for the climate. Well, if it is for the climate, let’s use American resources that are produced much cleaner and in a much better way for the environment than transporting fossil fuels across the ocean on tankers,” Westerman said.

Cohen’s bill is not part of the tax and climate deal Senate Democrats announced Wednesday, but it does include a minimum tax on wealthy corporations.