Here’s what we know about a 4th stimulus check
Updated 9:38 AM;
Today 9:38 AM
While many Americans are still awaiting the arrival of third stimulus checks, many lawmakers are pushing for recurring direct payments throughout 2021 as part of a fourth stimulus package. (AP Photo/Matt Rourke, File)
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The third stimulus payments of up to $1,400 per American are still being dolled out by the Internal Revenue Service.
In fact, the IRS, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced this week that more than two million supplemental stimulus checks are being delivered in the fifth batch of Economic Impact Payments (EIP).
The nation’s top CEOs are pushing back against President Biden’s plan to raise the corporate tax rate, a move they say would make U.S. companies less competitive and hurt workers.
Hot-button issues from voting rights to tax hikes redraw the lines in corporate America msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
By Naomi Jagoda - 04/11/21 06:49 PM EDT
The White House has sent mixed signals over its plans to raise taxes on the wealthy to pay for some of its policies, providing a lack of clarity about how President Biden
The absence of details comes as Democrats are already debating privately how to pay for their programs, an issue when it comes to taxes that splits the party not only on philosophic lines but also on regional ones.
Most Democrats support the idea of raising taxes on the wealthy and corporations, but Democrats representing suburban areas with high costs of living are sensitive about what s judged middle class and upper middle class and how tax hikes would affect their communities. And conservatives have already started to argue that Biden is seeking to violate his pledge to raise taxes on only the wealthiest Americans.
But what about the pass-throughs?
04/12/2021 10:00 AM EDT
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LET’S TALK ABOUT THE NUMBERS:
It’s been a key part of President Joe Biden’s argument for hiking taxes on corporations current revenue collections from big business are out of whack.
That goes for the U.S., as a historical measure: “Over the past three years, corporate tax collections have fallen to their lowest level since World War II: 1% of gross domestic product,” Treasury Secretary Janet Yellen wrote in the second sentence of her recent Wall Street Journal op-ed.