U.S. House Democrats advance tax-hike plan as rifts open over Biden spending bill

u s house democrats advance tax hike plan as rifts open over biden spending bill

Sumary of U.S. House Democrats advance tax-hike plan as rifts open over Biden spending bill:

  • Biden met with two influential moderate Senate Democrats on the legislation at the White House.
  • Story continues below This has not loaded yet, but your article continues below.
  • Article content The Democratic-led House Ways and Means Committee voted 24-19 to approve the tax-related portions of the bill, which include raising the top income tax rate to 39.6% from 37% and the top corporate tax rate to 26.5% from 21%.
  • The committee’s work will be treated as recommendations to House and Senate leaders as they craft final versions of the massive tax and spending bill in coming weeks.
  • Story continues below This has not loaded yet, but your article continues below.
  • Article content “But there are also spending and tax provisions that give me pause, and so I cannot vote for the bill at this early stage,” she said in a statement, adding the final version can be “fiscally responsible.
  • ” Democrats, who aim to pass the bill without the support of Republicans using budget reconciliation rules, cannot afford to lose more than three votes in the House and any votes in the Senate.
  • MEDICARE DEADLOCK Rifts between Democratic moderates and progressives also were on display at the House Energy and Commerce Committee, where a 29-29 vote blocked a provision that would allow the Medicare healthcare program for seniors to negotiate lower drug prices with pharmaceutical companies.

Want to know more click here go to source.

From -

Close
Generic selectors
Exact matches only
Search in title
Search in content

Site Language


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close