Democrats are scrounging for new ways to pay for Biden's economic agenda, as the Arizona senator moves against tax increases on the wealthy.
Sinema is fundraising abroad while talks around Biden's spending plan stall, partly over her opposition to corporate and individual tax hikes.
Americans earning below $30,000 are among the big winners in the House Democrats' plan. They'll see larger cuts than in the 2017 Republican tax law.
A document circulating among House Democrats says high-earning Americans with incomes over $5 million could see a 3% "surtax."
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.
Democrats are likely to fight over taxes as they assemble a spending package to finance a monthly child allowance and tuition-free community college.
The plan would set up user-fees to tax people rather than corporations. Democrats are likely to oppose it since it's a quarter of Biden's proposal.
Sen. Roger Wicker says Republicans oppose repealing parts of their 2017 tax law. Biden wants to fund his massive jobs plan with corporate tax hikes.
"I'm actually okay at 28%," Gary Cohn told Yahoo Finance last year. That's exactly the rate Biden wants corporate tax rates to go back to, from 21%.
The real-estate market in the Hamptons, the ritzy vacation playground of New York City’s wealthiest residents, is suffering. The median sale price of a Hamptons home has fallen to a seven-year low of $US860,000, according to a 2019 Q1 report from Douglas Elliman Real Estate. And, as Oshrat Carmiel reported […]
The US budget deficit hit $US234 billion in the month of February, up 8.7% compared to the same month last year. The February budget deficit was also the highest one-month deficit on record, eclipsing the previous record set in 2012. The deficit is growing as the GOP tax law slows […]
Rep. Alexandria Ocasio-Cortez and Sens. Elizabeth Warren and Bernie Sanders have all introduced plans to increase taxes on the wealthy. While Republicans and wealthier businesspeople have attacked the proposals, the American public is open to the ideas, according to new polls. A new INSIDER poll found 37% of respondents supported […]
Sen. Bernie Sanders introduced a new plan to increase the estate-tax rate for wealthy Americans. The plan, called the “For the 99.8% Act,” would lower the exemption for the estate tax to $US3.5 million and increase the top tax rate to 77% for estates with assets over $US1 billion. Sanders […]
House Speaker Paul Ryan is retiring at the end of the current Congress, in January, after taking over as speaker in October 2015. Ryan said one of his biggest disappointments as speaker was not addressing the growing amount of federal debt. As speaker, Ryan oversaw the passage of legislation expected […]
President Donald Trump is suddenly obsessed with the growing federal deficit, according to a new Washington Post report. Trump’s major legislative achievement, the GOP tax law, is a big driver of the exploding deficit. The possibility that Trump will actually act to reduce the deficit is slim. The president is […]
President Donald Trump has boasted about the upswing in the US economy for much of 2018. But according to economists at Goldman Sachs, JPMorgan, and Bank of America Merrill Lynch, the economy is showing signs it could cool down in 2019. The combination of a fading tax-cut stimulus, tariffs, and […]
Republicans counted on their tax cut law being a key part of their 2018 midterm strategy. But a new exit poll showed that few Americans believed the tax law helped them. Only 28% surveyed said the Republican tax cuts benefitted them, while 45% said they had no effect. Republicans wanted […]
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