The Biden administration’s proposal to dramatically expand the inheritance tax bill for wealthy Americans is running into some headwinds with Democrats on Capitol Hill, showcasing nervousness about the scope and size of elements of the White House’s ambitious tax plans.
House Republicans are expected to reveal their answer to Joe Biden’s massive 2022 budget proposal. Those representatives are confident their proposal, set to be announced Wednesday, will balance the federal budget in five years and cut taxes by nearly $2 trillion.
President Joe Biden stepped up the pressure on Israel to end 10 days of violent fighting with Palestinians, making clear in a call Wednesday with Prime Minister Benjamin Netanyahu "that he expected a significant de-escalation today on the path to a ceasefire" in the battle with Hamas.
On March 31, the Biden Administration released details on its “American Jobs Plan.” Containing $2.25 trillion in new spending, $400 billion in tax credits, and $2.75 trillion in tax increases, if passed as proposed, the plan would be among the largest pieces of legislation in American history.
The Biden administration has diverted more than $2 billion from congressionally-authorized programs for COVID-19 testing, emergency medical supplies, and other health-care needs to provide shelter for the 45,000 unaccompanied migrant children who have so far crossed the US’ southern border this year as the border crisis continues to spiral.
Happy Monday, dear Kruiser Morning Briefing friends. Regrets are for people who wear pants. Well, we made it through the weekend. Let us hope that we will be able to say the same thing next Monday.
US Secretary of State Tony Blinken has said that the Biden administration is working “behind the scenes” to end the violence in Israel and Palestine. Yet the administration intends to sell Israel $735 million worth of bombs.
