(Bloomberg) — Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical tensions. “Big Oil’s first priority is to maximize profits,” Warren, a Massachusetts Democrat, tweeted on Wednesday. “We can’t let them use Putin’s invasion as an excuse […]
Read More(Bloomberg) — Democratic lawmakers are risking the ire of voters inflamed by this year’s tax-filing season, as the stalling of President Joe Biden’s priority economic package leaves them bereft of promised benefits. Embedded in the Build Back Better package were two provisions that Democrats designed so that the effects would be felt immediately by key […]
Read MoreThe latest version of the Build Back Better Act, which the House could vote on a soon as this week, includes a controversial tax break that would overwhelmingly benefit high-income households, though whether it will survive revisions in the Senate is still an open question. Pushed by lawmakers from high-tax states, House Democrats are proposing […]
Read MoreHouse Speaker Nancy Pelosi of Calif., arrives for a meeting with House Democrats on Capitol Hill in Washington, Tuesday, Oct. 26, 2021. (AP Photo/Andrew Harnik) Congressional Democrats need a KISS—as in keep it simple, stupid. Because the tax plan they’re producing after 8 months of interparty bickering is beginning to look like an overcomplicated, indefensible […]
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