Chris Kleponis/CNP/Bloomberg via Getty Images(WASHINGTON) President Joe Biden on Friday unveiled a $6 trillion budget proposal for fiscal year 2022, which includes his costly initiatives already announced, including the American Jobs Plan and American Families Plan. It also includes his proposal to raise the corporate tax rate to 28% and increase the capital gains tax on the wealthiest Americans to 39.6%, but it still runs a deficit of $1.8 trillion for FY 2022 and continues to run trillion-dollar deficits yearly over the next decade. Shalanda Young, acting director of the Office of Management and Budget, said that after 2030, the budget policies will then start to reduce annual deficits, speaking on a call with reporters. The budget unveiling traditionally kicks off lengthy negotiations or fights with Congress, which must approve federal spending. The Biden administration released its budget on a Friday afternoon before a holiday weekend and as Congress leaves town for a week. Senat
The Republicans were successful in preventing a bipartisan probe into the deadly riots at US Capitol by supporters of former US President Donald Trump On January 6.
Republicans in the U.S. Senate on Friday were expected to block the creation of a bipartisan inquiry into the deadly assault on the Capitol by former President Donald Trump's supporters, in a vote delayed by disagreements on a sweeping tech bill.
By Susan Cornwell
WASHINGTON, May 28 (Reuters) - Republicans in the U.S. Senate on Friday derailed a bipartisan inquiry into the deadly assault on the Capitol by former President Donald Trump s supporters, despite a torrent of criticism the lawmakers were playing down the violence.
Democrats and some moderate Republicans had called for a commission to probe the events up to and including Jan. 6, when hundreds of supporters of Trump, a Republican, stormed the Capitol, fighting with police, urging violence against lawmakers and delaying the formal certification of President Joe Biden s election victory. The violence left five people dead including a Capitol Police officer.