There s a way Joe Biden can raise more from the rich without higher taxes
Joe Biden could take administrative steps to shift enforcement priorities without the involvement of Congress, connected to the IRS technology usage and its hiring and allocation of current workers. New York Times
Source: AP
On the campaign trail, Joe Biden argued for higher taxes on Americans who make more than $400,000 a year. Those tax increases, he said, would help fund his broader agenda and reduce inequality.
But depending on the outcome of Georgia runoff elections next month, as president he will face either a Republican Senate majority that is dead set against tax increases, or a very narrow Democratic majority that will need to choose its battles carefully.
The Cost of an Unfocused Stimulus
And what else you need to know today.
Good morning. Congress passes a $900 billion stimulus bill that economists call important and flawed.
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Louisville, Ky., has an estimated $115 million budget shortfall for the next fiscal year.Credit.Luke Sharrett for The New York Times
For many Americans, the coronavirus recession has done almost no damage to their finances. They still have their jobs, and their expenses have gone down while they’ve been stuck mostly at home. Their homes have not lost value, unlike during the financial crisis of 2007-9. If they are fortunate enough to own stocks, their portfolio is probably worth more than a year ago.
Second stimulus check deal: when should you expect payment?
Congress has agreed a new covid-19 relief package which provides $600 to each eligible American. But with over a hundred million payments to be made, how long until you get yours?
MICHAEL REYNOLDS
EFE
On Sunday it was confirmed that Republicans and Democrats have come to an agreement on another round of coronavirus economic relief. Negotiations in Congress continued over the weekend as
lawmakers’ Christmas break was postponed until they had passed this package and a federal financing bill.
Included in the
$900 billion pandemic support package is another round of stimulus checks that will provide direct payments to Americans. This news will come as great relief for tens of millions across the country but the checks will only provide
Businesses get $100B tax write-off windfall in aid bill accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.