Biden’s proposals to raise taxes on the wealthy include raising the top individual tax rate, raising capital gains tax rates for high-income households, and taxing capital gains at death.
Moderate Democrats aren’t fans of a wealth tax, and it’s unclear how quickly any tax increases on the wealthy will be enacted.
The Hill’s Scott Wong and I have more here on Democrats’ reaction to the ProPublica report.
GOOD TO KNOW:
The cryptocurrency industry is increasing its lobbying presence in Washington as it attempts to ease concerns from Congress and regulators about digital currency’s volatility, environmental impact and role in recent high-profile ransomware attacks.
Melanie D’Arrigo, a progressive health care consultant who lost to Suozzi in the 2020 primary, said in an interview that her chances at winning “are very different this time around.”
‘Appetite is there for change’: Progressive activist to primary N.Y. Rep. Tom Suozzi for second election in a row Chris Sommerfeldt
A progressive health care consultant from Long Island announced Monday that she will challenge New York Rep. Tom Suozzi in next’s year primary, hoping the second time’s a charm after her first attempt at unseating the Democratic congressman fell flat in 2020.
Melanie D’Arrigo, who lost to Suozzi in the 2020 primary by more than 40 percentage points said in an interview that her chances at winning “are very different this time around.”
“We have a base that we didn’t have last time, and I think the appetite is there for change,” said D’Arrigo, whose campaign announcement came along with endorsements from six prominent progressive groups, including Brand New Congress and the National Organization for Women.
House approves January 6 commission despite GOP opposition By Grace Segers Top Republicans oppose panel to probe Capitol riot
Washington The House voted on Wednesday to approve legislation to establish a bipartisan commission to investigate the January 6 attack on the U.S. Capitol, despite growing opposition from Republicans who object to the proposed structure and scope of the panel.
The bill, which was negotiated in part by a GOP congressman, passed by a vote of 252 to 175, with all Democrats and 35 Republicans voting in favor. But the bill faces an uphill battle in the Senate, as it is unclear whether it will receive enough Republican support to advance.
The bill for a Jan. 6 commission that passed the House of Representatives on Wednesday faces an uncertain future in the Senate, where Minority Leader Mitch McConnell aligned himself with House Minority Leader Kevin McCarthy in opposition to the bipartisan legislation.