Indiana governor says ‘we shall see’ on possible tax cuts
Indiana’s surging state tax collections have the governor in discussions on whether tax cuts should be considered during the upcoming legislative session.
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Indiana lawmakers could debate sales, business tax changes
House Ways and Means Chairman Tim Brown wants to explore expanding Indiana’s 7% sales tax to services, which potentially could be anything from haircuts to hospital stays, with the aim of lowering the overall sales tax rate.
What’s in, and what’s out, as House nears vote on $1.85T Biden bill
President Joe Biden’s now- $1.85 trillion plan to boost social and education programs as well as protect against global warming continues to be fine-tuned by Democrats in Congress with a new goal of completing work before Thanksgiving.
G-20 endorses global corporate minimum tax at Rome summit
U.S. Treasury Secretary Janet L. Yellen predicted that the deal on new international tax rules, with a minimum global tax, will benefit American businesses and workers and “end the damaging race to the bottom on corporate taxation.”
Biden urges end to talks on spending bill as Dems eye new surtax
Top Democratic leaders are signaling a deal is within reach even though momentum fizzled and tempers flared late Wednesday after a billionaires’ tax and a paid family leave program fell out of the Democrats’ sweeping bill.
Pelosi upbeat on Biden deal but Manchin pans billionaire tax
House Speaker Nancy Pelosi’s upbeat comments came as President Biden and Democrats try to strike agreement soon on his big proposal, now about $1.75 trillion in social services and climate change programs
Billionaire tax meets opposition as Biden pushes for budget deal
President Joe Biden said Monday he’s hopeful the talks with Congress can wrap up overall agreement on the package this week. It’s tallying at least $1.75 trillion, and could still be more.
Biden, Schumer, Manchin huddle, but still no budget deal
Pivotal Democratic Sen. Joe Manchin appears to be on board with White House proposals for new taxes on billionaires and certain corporations to help pay for President Joe Biden’s scaled-back social services and climate change package.
White House, Dems hurriedly reworking $2 trillion Biden plan
President Joe Biden mentioned during a televised town hall Thursday the challenge he faces in wrangling the sharply divergent factions in the Democratic party to agree to the final contours of the bill.
Social Security cost-of-living adjustment largest in decades
The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic.
Pelosi prepares Dems to scale back $3.5T spending package to $2T
House Speaker Nancy Pelosi said there are “important decisions to make in the next few days” if they hope to forge a legislative compromise that the fuller party, including its spending-weary centrists, ultimately can support.
Global minimum tax on corporations likely to be in reconciliation bill, Yellen says
Each country that signed the deal must pass legislation to enact the measure, which is aimed at limiting corporations’ ability to lower their tax bills by shifting profits to the lowest-tax jurisdictions globally.
Dems edge toward pared-down spending plan to boost support
The $3.5 trillion price tag on the social services portion of President Biden’s agenda has long been the sticking point, with progressives demanding the funding for their priorities and moderates balking at the eye-popping number.
Q&A: House budget leader Tim Brown reflects on career, possible parting gift
The Crawfordsville Republican spent the past eight legislative sessions as chairman of the House Ways and Means Committee and suggests he will propose a tax cut for Hoosiers as he departs the legislature in 2022.
Vote delayed, Democrats struggle to save Biden $3.5T bill
Deeply at odds, President Joe Biden and his party are facing a potentially embarrassing setback—if not politically devastating collapse of the whole enterprise—if they cannot resolve the standoff over Biden’s ambitious vision.
Democrats see tax ‘framework’ to pay for huge $3.5T package
Staring down a self-imposed Monday deadline, lawmakers said they would work nonstop to find agreement on specifics. Democrats’ views on those vary widely, but they largely agree with Biden’s idea of raising taxes on corporations and the wealthy.
Democrats seek corporate, wealthy tax hikes for $3.5T plan
n all, the tax hikes are in line with Biden’s own proposals and would bring about the most substantive changes in the tax code since Republicans with then-President Donald Trump slashed taxes in 2017. Business and anti-tax groups are sure to object.
Key Democrat favors cutting Biden budget plan by more than half
A Democratic senator vital to the fate of President Joe Biden’s $3.5 trillion plan for social and environmental spending said Sunday he won’t support even half that amount or the ambitious timetable envisioned for passing it.
Senate Democrats eye taxes on stock buybacks, excess CEO pay
The expanded menu of tax options would give Democrats more flexibility as they undertake thorny negotiations among themselves over how to pay for a proposed $3.5 trillion of long-term investments in child care, education and other social programs.
House passes $3.5T Biden blueprint after deal with moderates
House Democratic leaders have muscled President Joe Biden’s multi-trillion-dollar budget blueprint over a key hurdle, ending a risky standoff and putting the party’s domestic infrastructure agenda back on track.