"Stepped-up basis" lets billionaires transfer assets without paying taxes. Closing it could help raise more than $320 billion, the White House said.
Yellen credits the quality childcare her kids received in allowing her to advance in her career and urges Democrats to invest in affordable childcare.
Democrats are clashing over how to include the Biden benefit in their $3.5 trillion social spending bill.
Manchin received a warning from President Biden as Democrats aimed to pass his $1.9 trillion coronavirus stimulus this spring, according to a new book.
Policymakers have worried about price increases all summer, not least the West Virginia senator who controls Biden's agenda. But inflation is slowing.
Manchin's idea sparked early backlash from Democrats. "I think that raising children is work," Senator Sherrod Brown of Ohio told reporters Tuesday.
A key House progressive and several Senate Democrats including Bernie Sanders started lining up against Manchin.
"I think if we're not successful in getting 10 Republicans to do the right thing, then we have no choice but to revisit the rules of the Senate," he said.
"I don't know the young lady that well," Manchin said of Ocasio-Cortez. "We have not had any conversations."
Manchin, a centrist Democrat, is urging his party to slow down the passage of a $3.5 trillion social spending bill.
A document circulating among House Democrats says high-earning Americans with incomes over $5 million could see a 3% "surtax."
"Don't you think, if we're going to help the children, that the people should make some effort?" Manchin said.
The two Democratic moderates have both said that they are opposed to the $3.5 trillion price tag for the bill, which is central to Biden's agenda.
The brawl could be "ugly as hell," a former Democratic aide said, as former Senate Democrats who are now major lobbyists work to spike his tax hikes.
The Urban Institute found boosting Supplemental Security Income would cut the poverty rate for low-income and disabled people by more than half.
"It's time for working families, the folks who built this country, to have their taxes cut," Biden said in remarks following the August jobs report.
Rep. Ocasio-Cortez said, "Fossil fuel corps & dark money is destroying our democracy, country, & planet."