Democratic Sen. Joe Manchin raised concerns about a proposed tax on billionaires’ unrealized gains: “There’s a lot going on with that, it’s very convoluted.”
WASHINGTON—Democrats struggled Wednesday to piece together even the outline of an agreement on their social-policy and climate bill, as White House officials traveled to Capitol Hill to meet with centrists who have objected to elements of the plan.
The White House is pushing for Democrats to come together around the bill, expected to cost around $1.75 trillion, by the end of the week. President Biden is set to attend the , and the Virginia and New Jersey gubernatorial elections are Tuesday, making the White House eager to show progress on the president’s agenda.
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'Billionaire tax' stirs fresh discord among Democrats as clock ticks down to deal deadlineSenate Majority Leader Chuck Schumer said Tuesday that a final deal for President Joe Biden’s $1.75 trillion infrastructure plan is in reach, even as a proposed tax on billionaires to pay for the package’s social measures has come under fire. Read more:
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Senate Democrats push for tax on billionaires to help fund spending planSenate Democrats are eyeing a tax on billionaires to help fund their social spending package amid pushback on income and corporate tax hikes.
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Democrats Negotiate Tax, Healthcare Provisions as Biden Seeks Deal This WeekDemocrats are working to wrap up negotiations over their social-policy-and-climate bill, facing a weekend deadline to resolve disagreements on tax policy and healthcare, among other issues.
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Democrats unveil billionaires' tax as Biden plan takes shapeSenate Democrats on Wednesday unveiled a new billionaires’ tax proposal designed to help pay for President Joe Biden’s sweeping domestic policy package.
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Democrats unveil billionaires' tax proposal as they search for agreement on Biden planSenate Democrats unveil a proposed new entry in the tax code that would raise taxes on the wealthiest Americans — fewer than 800 people, all told.
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Billionaire Tax Faces Likely Constitutional ChallengeThe Democrats’ plan to tax billionaires’ unrealized capital gains has a problem: It will likely be challenged in court as unconstitutional.
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