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45ae59f6be38e421749b1804ad67ec3f Archive

A Big To-Do List Awaits Congress’ Return

TweetShareSharePin0 Shares Ways & Means Democrats release their tax plan. The 645-page committee draft includes scores of tax breaks, including extending most of this year’s expansions of refundable tax credits through 2025 while making refundability of the Child Tax Credit permanent and extending or increasing a long list of alternative energy tax breaks. Separately, Chair

Will The Wealthy Pay Higher Taxes Sooner, Or Later… Or Never?

TweetShareSharePin0 Shares It’s increasingly unclear. The Wall Street Journal reports (paywall) that congressional Democrats may not have the votes to pass some of President Biden’s more ambitious efforts to rewrite the 2017 Tax Cuts and Jobs Act or otherwise raise taxes on the corporations and the wealthy. These include raising taxes on multinational corporations and

Deficits and Disapprovals | Tax Policy Center

TweetShareSharePin0 Shares The budget deficit may reach nearly $3.12 trillion this year. The Biden Administration’s mid-session budget review projects the deficit for the fiscal year ending September 30 will hit $3.114 trillion, down about $550 billion from its May estimate and a bit lower than last year’s deficit of $3.129 trillion. This year’s deficit will

Thirty Days Hath September… | Tax Policy Center

TweetShareSharePin0 Shares House passes the budget resolution, sets an infrastructure vote for September 27. The House passed the $3.5 trillion budget framework on a party-line vote. Speaker Nancy Pelosi committed to  bringing the bipartisan $1 trillion infrastructure bill to the House by September 27.  It remains to be seen whether the House can pull together

The House Returns For Quick Action, Maybe

TweetShareSharePin0 Shares Pelosi tries to thread the fiscal needle. The House will meet this week to try to advance the Senate-passed infrastructure bill and budget resolution. But first, the House speaker will have to settle a dispute between Democratic moderates who want to vote on the infrastructure bill right away and progressives who want to

Will The House Pass A Budget Next Week?

TweetShareSharePin0 Shares Democratic sparring continues over the budget.  Looking to balance demands of moderates and progressives, House Speaker Nancy Pelosi says she may ask the House to consider both the Senate-passed infrastructure bill and a $3.5 trillion budget resolution as soon as next week. She took the step after nine moderate Democrats said they would

Infrastructure Nears A Vote And The Reconciliation Process Begins

TweetShareSharePin0 Shares Infrastructure and Investment Jobs Act poised for Senate passage. The Senate is expected to pass the bipartisan $1 trillion infrastructure bill today. Will there be a cryptocurrency reporting deal? Yesterday, senators and the Biden Administration appeared to reach a compromise after the crypto industry opposed the original reporting requirements backed by the White
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