(The Center Square) – The White House is reportedly considering a new tax on the investments and assets of wealthier Americans to help fund several trillion dollars in proposed social spending.
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(The Center Square) – Tense negotiations have continued for months on Democrats’ proposed several trillion dollars in federal spending, leading to major changes for the plan. Notably, Democrats now say the $3.5 trillion "human infrastructure"plan will likely end up closer to $2 trillion, though that figure still remains too high for many lawmakers.
(The Center Square) – Democrats’ division over the $3.5 trillion reconciliation bill has further deepened after disagreement on key provisions of the legislation and public attacks between members of the party.
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(The Center Square) – U.S. House Speaker Nancy Pelosi, D-Calif., doubled down on the inclusion in a spending bill of a Democratic provision that would require banks to report to the IRS transactions for accounts holding over $600.
(The Center Square) – Senate Republican Leader Mitch McConnell, R-Ky., said Wednesday afternoon that Republicans will allow Democrats a temporary reprieve by helping push back the debt ceiling deadline until December. This will give Democrats more time to pass a budget measure to avoid the major economic fallout of defaulting on federal debt payments.
(The Center Square) – Congressional Democrats have hit a snag in their plan to push amnesty provisions through Congress as the immigration crisis at the southern border grows worse.