Now, it s Congress turn to pick up the baton on Biden s agenda 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.
White House press secretary Jen Psaki said the new plan represents a “historic investment” in education and child care.
Mr. Biden’s spending plans are needed “so we can make badly needed investments in the financial security of middle-class families as well as [in] jobs, growth and competitiveness,” Ms. Psaki said.
To pay for some of the new spending, Mr. Biden wants to increase the top individual income tax rate from 37% to 39.6%. The 2017 GOP tax law had reduced individual tax rates across the board.
Mr. Biden also would increase the tax on capital gains from about 20% to the top individual tax rate of 39.6% for income above $1 million, not including an additional 3.8% Obamacare investment income tax.
$1,400 Stimulus Checks Were Just the Beginning. More Money Is Coming.
The $1,400 stimulus checks that were mandated by the American Rescue Plan are going out to taxpayers currently, with the most recent round last week including nearly 2 million checks. And more help is on the way.
The $1,400 stimulus checks that were mandated by the American Rescue Plan are going out to taxpayers currently, with the most recent round last week including nearly 2 million checks.
Once that check arrives, it doesn’t appear that the government has any immediate plans for another round of stimulus checks. The two big legislative packages that President Biden is expected to talk up in his address to Congress Wednesday night, the American Jobs Plan and the American Rescue Plan, do not include the conference of direct payments to everyone, as was the case with the American Rescue Plan and a pair of laws that passed in 2020.
-The Hagstrom Report
House Agriculture Committee Chairman David Scott, D-Ga., said today he is planning a hearing on carbon markets at which various companies involved in those markets can explain how their programs work.
Noting that he has already chaired a hearing on climate change, Scott told the North American Agricultural Journalists that the committee “needs the proper information to move forward.” He did not announce a date for the hearing.
“There are a zillion carbon markets that are just popping up,” Scott said. “How do we navigate this growing field of different companies?” Each has a different approach, he said.
Andrew Harnik / AP
Congressional Democrats are further expanding the definition of infrastructure with a plan to provide paid leave and family benefits for the vast majority of Americans.
Democrats are specifically calling the proposal care infrastructure, adding to a party-wide push to redefine infrastructure beyond physical projects like roads, bridges and waterways. Republicans have almost universally rejected this rebranding, but Democrats insist that infrastructure should refer to all of the systems that contribute to a thriving economy.
House Ways and Means Committee Chairman Richard Neal, D-Mass., is leading the effort along with members of the committee, which is responsible for health care, Social Security and taxes.