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Congress · 117th Congress
House Democrats change tack on spending bill floor debate
/p> If they’re able to complete the Commerce-Justice-Science bill this week as well, it would mean the House would have passed 10 of its 12 spending bills needed for the fiscal year that begins Oct. 1.
White House · 117th Congress
Yellen urges lawmakers to act on debt limit in September
Yellen wrote that Treasury will begin taking extraordinary measures on Aug. 1, starting with suspending sales of special state and local government securities, to remain technically within the borrowing
Congress · 117th Congress
‘G-fees,’ pension smoothing on the table for infrastructure offsets
That additional fee expires on Oct. 1 unless the Federal Housing Finance Agency extends or changes it, or if Congress acts to renew it.
Congress · 117th Congress
Debt limit deadline likely October or November, CBO says
The debt limit will reset on Aug. 1 to the total amount of debt outstanding on that day, which the CBO estimated will be about $28.5 trillion.
Congress · 117th Congress
Wyden pitches curbs on tax break for noncorporate businesses
The Joint Committee on Taxation has estimated that taxpayers earning more than $1 million have claimed more than half the deduction’s benefit, for instance.
Congress · 117th Congress
Child tax credits roll out amid tech woes, opt-out concerns
About 1 million individuals have opted out so far, according to the senior administration official.
Congress · 117th Congress
Congress has a long to-do list this summer
Energy-Water (1 p.m., 2118 Rayburn): The draft bill would allocate $53.2 billion, or $1.47 billion more than the enacted spending levels for fiscal 2021.
Congress · 117th Congress
House Democrats to skip budget markup, wait for Senate
Under budget law, if the Senate Budget panel hasn’t marked up a budget by April 1, any senator can introduce a budget on the floor of that chamber.
Congress · 117th Congress
Biden plan gives moderate Democrats sticker shock
Peters supports the bipartisan compromise that Romney helped broker, calling the $1 trillion figure “historic.” “Five years ago, we would have never dreamed of numbers like that,” he said.
Policy · 117th Congress
G-7 moves toward US on digital services, with details awaited
Canadian Finance Minister Chrystia Freeland said her country still plans to implement the tax on Jan. 1, 2022, while work to finalize an agreement continues.
Congress · 117th Congress
Yarmuth: House budget blueprint won’t veer too far from Senate’s
The focus for those last two weeks of the month is likely to be fiscal 2022 appropriations and avoiding a partial government shutdown when current-year funds lapse on Oct. 1, he said.
Congress · 117th Congress
House Republicans, Yellen spar over Biden tax proposals
Several Republicans mentioned opposition to Biden’s proposal to eliminate stepped-up basis on assets above $1 million, saying it doesn’t do enough to protect family farms and small businesses even
Opinion · 117th Congress
As Biden faces a summer of inflation, voters will be watching
While this is not a decisive margin, the fact that 45 percent — nearly 1 in 2 voters — viewed the ARP as a spending law with too many unrelated priorities means Democrats have their work cut out
Congress · 117th Congress
Showdown over border wall spending reaches Supreme Court
[jwp-video n=”1″] In September, a panel of the U.S.
Congress · 117th Congress
Distrust of IRS drives GOP critique of Biden tax enforcement plan
Their bill would apply a 10 percentage point tax to income above $1 million for individuals and $2 million for married couples.
Congress · 117th Congress
Bipartisan group avoids partisan hurdles in infrastructure talks
group negotiating a fallback infrastructure plan say they will avoid tax increases and user fees, but include climate-related spending, in a bid to get past obstacles that have tripped up progress on a $1
Congress · 117th Congress
House Agriculture chairman objects to Biden inheritance tax plan
Under Biden’s proposal, heirs who inherit assets of more than $1 million per person would have to pay capital gains taxes on the full appreciation in value from the time the original owner purchased
White House · 117th Congress
Maybe Biden is a moderate after all
The GOP backtracking on the Jan. 6 commission and the continuing, caustic debate over Democrats’ elections bill, known as HR 1 in the House and S 1 in the Senate, have also distracted from this broader
Policy · 117th Congress
Budget release starts a process that will run through summer
was “essential that Congress, on a bipartisan and bicameral basis, work with the president to negotiate budget toplines” to be able to start writing the spending bills for the fiscal year starting Oct. 1.