Policy · 117th Congress
Deficit cut in half last year, but more red ink lurks
For the fiscal year that began Oct. 1, the White House in August projected a deficit in the $1.3 trillion to $1.4 trillion range, depending on what policies are enacted.
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Campaigns · 117th Congress
Lobbyists pony up in race for Ways and Means GOP leader
Jason Smith, who is seeking his sixth term, with $1 million from registered federal lobbyists and affiliated PACs.
Campaigns · 117th Congress
CFTC examining whether to allow bets on party control of Congress
The event contracts will have a price of between 1 cent and 99 cents, with the amount determined by market interest.
Campaigns · 117th Congress
Oz seeks to rally GOP against very online Fetterman campaign
Fetterman’s campaign also said it raised over $1 million in just three days last week after an April Oz campaign video showing the Republican in a grocery store produce section went viral.
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
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
Congress · 117th Congress
Debate begins on massive budget package; ‘vote-a-rama’ awaits
A 1 percent tax on what companies spend on stock buybacks was added in to boost revenue, with higher taxes on a form of pay for investment fund managers, “carried interest,” out due to Sinema.
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.
Congress · 117th Congress
Leahy to return in time for expected budget vote
Leahy will return to the Senate the week of Aug. 1 after recovering from hip surgery and will be available to vote on the revamped budget reconciliation package, his office announced Friday.
Congress · 117th Congress
Manchin: Deal’s tax increases won’t hurt businesses, raise prices
“Enough’s enough for the one-tenth of 1 percent of the wealthiest people in the country having an advantage. So I’m hoping everybody’s OK.”
Congress · 117th Congress
Democratic bill would mandate new IRS free tax-filing program
The bill would require a program by March 1, 2023, allowing taxpayers who don’t have to file tax returns to claim refundable tax credits.
Opinion · 117th Congress
Joe Biden’s presidency is out of gas
In this case, head off to the Middle East, leaving behind a White House and Democratic Party in turmoil as he desperately seeks a solution to the country’s No. 1 problem: inflation.
Congress · 117th Congress
Reconciliation talks complicated by ‘SALT’ tax hurdle
Their negotiations have focused on a package that would raise roughly $1 trillion in revenue, with half to offset spending initiatives on climate and potentially health care and the other half for deficit
Congress · 117th Congress
Congress skeptical about Biden’s call to suspend gas tax
President Joe Biden on Wednesday proposed a series of actions he said could reduce the price of gasoline by $1 per gallon, including a call for a gas tax holiday that was greeted with skepticism by members
Congress · 117th Congress
Conservative faction’s earmark requests illustrate GOP divide
[Earmark fans grow among House GOP as total requests swell] House Appropriations Chair Rosa DeLauro, D-Conn., reintroduced the practice with revamped transparency rules and a cap at 1 percent