Democrats are proposing a billionaires income tax—here’s how it would work

Senate Democrats have released details on their proposed billionaires income tax, or BIT, which would effectively change how capital gains are taxed for the richest Americans and help fund President Joe Biden’s infrastructure legislation. The changes, written by Senate Finance Committee Chairman Ron Wyden, D-Ore., would apply to the approximate 700 billionaires earning over $100… Continue reading Democrats are proposing a billionaires income tax—here’s how it would work

Democrats’ budget prohibits higher taxes for those making less than $400,000. Here’s who might pay more

Senate Democrats aim to fund a $3.5 trillion budget measure partly on the backs of higher taxes for corporations and the wealthy, according to a budget framework issued Wednesday. Democrats would “prohibit” tax increases for households earning less than $400,000, as well as other groups like small businesses and family farms, as they seek to… Continue reading Democrats’ budget prohibits higher taxes for those making less than $400,000. Here’s who might pay more

Senate Democrats prepare to work on Biden infrastructure plan ‘with or without’ Republicans

Senate Democrats plan to forge ahead with crafting a massive infrastructure package next month — regardless of whether Republicans get on board — as they push to pass a bill this summer. Senators will be out of Washington next week for the Memorial Day holiday. When lawmakers return, Democrats aim to write an infrastructure plan… Continue reading Senate Democrats prepare to work on Biden infrastructure plan ‘with or without’ Republicans

Senate Can’t Vote On $15 Minimum Wage, Parliamentarian Rules

Activists appeal for a $15 minimum wage near the Capitol in Washington, Thursday, Feb. 25, 2021. The $1.9 trillion COVID-19 relief bill being prepped in Congress includes a provision that over five years would hike the federal minimum wage to $15 an hour. (AP Photo/J. Scott Applewhite)

Senate Democrats will not be forced to confront an internal political battle over increasing the federal minimum wage to $15 following a decision by the primary keeper of Senate rules. The Senate parliamentarian ruled that a plan to gradually increase the federal minimum wage to $15 an hour by 2025 does not fit the complicated… Continue reading Senate Can’t Vote On $15 Minimum Wage, Parliamentarian Rules

Senate Can’t Vote On $15 Minimum Wage, Parliamentarian Rules

Light shines on the U.S. Capitol dome as sunrise approaches before a rehearsal for President-elect Joe Biden's Presidential Inauguration in Washington, Monday, Jan. 18, 2021. (AP Photo/Patrick Semansky)

Senate Democrats will not be forced to confront an internal political battle over increasing the federal minimum wage to $15 following a decision by the primary keeper of Senate rules. The Senate parliamentarian ruled that a plan to gradually increase the federal minimum wage to $15 an hour by 2025 does not fit the complicated… Continue reading Senate Can’t Vote On $15 Minimum Wage, Parliamentarian Rules