By WCAX News Team; WCAX

WASHINGTON (WCAX) – Vermont Independent Sen. Bernie Sanders is urging a worldwide wealth tax for the ultra-wealthy.

It’s an initiative from Brazil at the G-20 summit that would establish a global minimum tax on the uber-rich.

A letter detailing the proposal comes before the G-20 summit in July where Brazil will reportedly push for a joint declaration.

According to Sanders, countries across the world could lose up to $4.8 trillion in tax revenue because of tax havens.

Sanders signed onto a letter urging President Biden and Treasury Secretary Janet Yellen to support the global wealth tax.