A new congressional report shows that the tax increase bill approved by the House Ways and Means Committee would increase taxes on millions of taxpayers making less than $400,000. That would violate a pledge President Joe Biden has made repeatedly.
President Joe Biden made a surprise appearance at Wednesday night's Congressional Baseball Game, glad-handing lawmakers as members of his own party threaten to strike out his domestic agenda.
“It’s going to cost nothing,” President Biden said of the Democrats’ massive $3.5 trillion spending binge, which House Speaker Nancy Pelosi is scrambling to pass this week.
President Biden’s big government legislative agenda will kill 5.3 million jobs and generate $4.5 trillion in debt, according to a Monday study by the Texas Public Policy Foundation.
The Delta variant is keeping more companies cautious about how to invest the mountains of cash they have at their disposal. That hesitancy has led, in part, to corporate spending on stock buybacks outpacing capital expenditures this year.
A letter signed by more than 40 trade associations calls on Congress to reject the proposal, saying it violates customer privacy and would create an incredibly expensive and elaborate reporting requirement for banks.
