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Congress · 117th Congress

Sweeping budget package passes Senate; House on deck Friday

that would lower insulin costs by providing $3.1 billion to help federally qualified health centers cover the direct costs of discounted insulin and epinephrine for qualifying patients through fiscal 2026

Congress · 117th Congress

‘Chips and science’ bill on way to Biden’s desk

The $24 billion in tax credits the bill would provide through 2026 for constructing new semiconductor manufacturing facilities “aren’t warranted, and I think actually ignore the major national security

Congress · 117th Congress

Semiconductor, science bill passes Senate, heads to House

billion in five-year grants for manufacturing and design of semiconductors and 5G wireless deployment, $24 billion to create a 25 percent tax credit for new semiconductor manufacturing facilities through 2026

Congress · 117th Congress

Test vote on ‘chips-plus’ bill teed up in Senate

Schumer pledged to move ahead with a procedural vote Tuesday afternoon on legislation that would, at minimum, fund semiconductor manufacturing grants and tax incentives through 2026. 

Congress · 117th Congress

Lawmakers face pressure to pass mental health legislation

John Cornyn, R-Texas, and Michael Bennet, D-Colo., that would increase authorizations to the National Suicide Prevention Lifeline program to $50 million per year through fiscal 2026.

Congress · 117th Congress

Tax changes keep coming as Democrats seek budget bill votes

Now the bill includes a one-year expansion and almost $4 billion available through 2026 for the IRS, along with another $1 billion for the Treasury Department to support enrollment and administration

Congress · 117th Congress

Sanders opposes plan to scrap ‘SALT’ cap, then restore it

Under the proposal circulating on Capitol Hill, the current $10,000 limit on SALT deductions would be repealed for the 2021 through 2025 tax years, then reinstated from 2026 through 2030 in Democrats

Congress · 117th Congress

Democrats closer to deal on budget reconciliation package

with party leaders on a potential five-year suspension of the $10,000 cap on state and local tax deductions, though that break would be paid for by extending the current law cap five years beyond its 2026

Congress · 117th Congress

Centrist Democrats push stronger child tax credit expansion

Spending drops sharply after 2026, when only full refundability would remain in place. About $13 billion of that cost would be for keeping it fully refundable in the second half of the decade.