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Congress · 117th Congress

Biden makes $1.75T sales pitch to House Democrats

An additional $125 billion would come from a 1 percent surcharge that would be levied on corporations when they buy back shares of their own stock.

Congress · 117th Congress

Debt ceiling hangs over Democrats’ legislative home stretch

mark up the revised budget in committee, rather than employ a special “auto discharge” procedure Democrats were able to use for the initial fiscal 2022 budget since the panel didn’t act before an April 1

Congress · 117th Congress

Potential fallback for debt ceiling fraught with complications

In the Senate, if the Budget Committee has not reported a budget resolution by April 1, the deadline in budget law, one or more budget resolutions can be introduced after that date and automatically

Policy · 117th Congress

Budget reconciliation instructions likely to assume deficits

The net effect could be somewhere in the ballpark of $500 billion to $1 trillion in paper deficits, which would mean a still-hefty $2.5 trillion to $3 trillion worth of necessary offsets for the