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House Ways and Means Committee Approves a Major Portion of the $3.5 Trillion Social Spending Package

The House Ways and Means Committee adopted a large part of the Democratic Party's $3.5 trillion social spending plan on Wednesday, including measures that would increase taxes on high-income people and businesses to cover the cost of additional spending. ....

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Democrats release data showing increase in 'mega-IRA' accounts

Democrats release data showing increase in 'mega-IRA' accounts
thehill.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehill.com Daily Mail and Mail on Sunday newspapers.

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Biden Tax Hikes Hitting Resistance, With 'No Room for Error'

Biden Tax Hikes Hitting Resistance, With ‘No Room for Error’
Bloomberg
2 hrs ago
Nancy Cook and Laura Davison
(Bloomberg) Weeks after President Joe Biden pitched the first major set of tax increases since 1993, signs are mounting that anxiety among congressional Democrats will significantly temper any increases that manage to pass Congress.
“We are trying to identify a menu of options” that can pass, Senator Chris Van Hollen of Maryland said in an interview. “You need to get every one of your 50 Democratic Senators on board. There is no room for error.”
The Treasury Department is slated to release the administration’s most detailed tax proposals yet, in a report known as the Green Book. But congressional staff are already paring down the ideas that have been floated and fine-tuning them to make them workable from both policy and political standpoints, a Democratic aide said on condition of anonymity. ....

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Biden Tax Hikes Are Hitting Resistance, With 'No Room for Error'

Biden Tax Hikes Are Hitting Resistance, With ‘No Room for Error’
Bloomberg
2 hrs ago
Nancy Cook and Laura Davison
(Bloomberg) Weeks after President Joe Biden pitched the first major set of tax increases since 1993, signs are mounting that anxiety among congressional Democrats will significantly temper any increases that manage to pass Congress.
“We are trying to identify a menu of options” that can pass, Senator Chris Van Hollen of Maryland said in an interview. “You need to get every one of your 50 Democratic Senators on board. There is no room for error.”
The Treasury Department is slated to release the administration’s most detailed tax proposals yet, in a report known as the Green Book. But congressional staff are already paring down the ideas that have been floated and fine-tuning them to make them workable from both policy and political standpoints, a Democratic aide said on condition of anonymity. ....

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Biden Wants to Invest $225 Billion for Paid Medical and Family Leave

Photo by Chip Somodevilla/Getty Images
Biden s infrastructure plan includes $225 billion to create a paid medical and family leave program.
It would eventually guarantee 12 weeks of paid leave and would provide workers up to $4,000 per month.
House Democrat Richard Neal unveiled a similar plan on Tuesday to ensure paid leave for every American.
In a measure that has been pushed for by Democratic lawmakers and organizations, President Joe Biden s $1.8 trillion plan being unveiled on Wednesday includes funding to create a national paid family and medical leave program.
Last month, Biden released the first part of his infrastructure plan, which focused both on rebuilding physical infrastructure, like roads and bridges, as well as on climate initiatives and affordable housing investments. The second part of his plan proposes childcare funding and universal pre-K, along with $225 billion over a decade to create a paid medical and family ....

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