Bernie Sanders is proposing a 5% billionaire wealth tax that would fund $3,000 checks for many Americans

Sen. Bernie Sanders and Rep. Ro Khanna unveiled the wealth tax proposal on Monday.

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• Sen. Bernie Sanders and Rep. Ro Khanna unveiled a billionaire wealth tax proposal on Monday.
• Under the plan, America's roughly 1,000 billionaires would see a 5% tax on their wealth.
• Some of that money would pay for $3,000 checks for people in households making less than $150,000.

Bernie Sanders has a plan to tax the wealthiest people in America — and use it to send checks to Americans.