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Congress · 117th Congress

House prepping stopgap funding bill through mid-December

Anything that can’t get 60 votes in the evenly divided Senate will need to be dropped or risk being unable to pass a continuing resolution by Oct. 1, which would lead to a partial government shutdown

Policy · 117th Congress

Inflation slowed in July as effects linger, agency reports

Still, the effects of inflation and a cooling economy were being felt by consumers as income grew by just 0.2 percent in July and spending grew by only 0.1 percent, down from 0.7 percent and 1 percent,

Policy · 117th Congress

OMB: Deficits, growth lower in the near term, inflation up

when the Biden administration released its fiscal 2023 budget request, the Office of Management and Budget in a report issued Tuesday sees the deficit for the current fiscal year dropping to just over $1

Congress · 117th Congress

Biden signs major climate, health care and tax bill into law

The package is estimated to cut the federal deficit by about $300 billion over the next decade, thanks to revenue raisers that include a 15 percent minimum tax on the largest corporations, a 1 percent

Congress · 117th Congress

Budget bill clears as Democrats seek to head off midterm losses

Combined with last year’s bipartisan infrastructure law that represents the other pillar of Biden’s “Build Back Better” agenda, Democrats will have delivered on roughly $1 trillion out of the $4

Congress · 117th Congress

Democrats stand ground against GOP immigration amendments

James Lankford, R-Okla., offered the amendment that would provide $1 million for the Centers for Disease Control and Prevention to continue expelling asylum-seekers at the U.S.

Congress · 117th Congress

Thune breaks through Democratic bloc on ‘vote-a-rama’ amendments

James Lankford, R-Okla., offered an amendment to provide $1 million for the Centers for Disease Control and Prevention to continue to implement Title 42 until 120 days after the termination of the COVID

Congress · 117th Congress

Sweeping budget package passes Senate; House on deck Friday

[Sinema ready to advance budget bill after tax changes] The new taxes that made it into the Senate’s final bill are a 1 percent tax on what public companies spend on stock buybacks and a 15

Congress · 117th Congress

After four-hour debate, Senate begins voting on budget bill amendments

Kyrsten Sinema, D-Ariz., including adjustments to a 15 percent corporate minimum tax based on income reported to shareholders, a 1 percent tax on companies’ stock buybacks and $4 billion for drought relief

Policy · 117th Congress

Democrats line up behind budget bill while GOP pledges ‘hell’

Substitute tax  To make up for the lost revenue from the corporate minimum tax exemptions and dropping the carried interest provision, Democrats added a 1 percent excise tax on stock buybacks, which

Congress · 117th Congress

Sinema ready to advance budget bill after tax changes

To make up for the lost revenue, Democrats have agreed to add a 1 percent excise tax on stock buybacks, according to two people familiar with the agreement.

Policy · 117th Congress

Changes mulled to sweeping budget package as debate nears

Separately, CNN reported that Sinema has sent signals to the business community that she may want to pare back a 15 percent corporate minimum tax on businesses that report $1 billion or more in income

Congress · 117th Congress

Democrats confident about budget vote as GOP plans amendments

Rubio also said he’ll offer an amendment to ensure the reconciliation measure can’t pass ahead of a permitting overhaul Schumer promised Manchin a vote on before Oct. 1.