Newsletter Archive

April 2021

The Tax Fight That Could Derail Biden’s Infrastructure Plan

A bipartisan group of House members from high-tax states on Thursday launched a caucus focused on repealing the $10,000 limit on state and local tax deductions imposed as part of the 2017 Republican tax law.

Plus: Plus, how a bipartisan deal could get done

Tax Cheats Cost the US $1 Trillion a Year, IRS Chief Says

The U.S. government is losing out on as much as $1 trillion a year or more in uncollected taxes, IRS Commissioner Charles Rettig told a Senate panel on Tuesday in calling for additional funding to help his “outgunned” agency pursue tax…

Plus: Plus, how much the war in Afghanistan has cost

Deficit Hits Record $1.7 Trillion in First Half of Fiscal Year

Driven by unprecedented spending in response to the Covid-19 pandemic, the federal budget deficit rose to a record $1.7 trillion in the first six months of the 2021 fiscal year, the Treasury Department announced Monday.

Plus: Plus, Biden says he’s 'prepared to negotiate’ on infrastructure plan

Biden Seeks Huge Spending Boost in First Budget

The Biden administration unveiled its first budget proposal on Friday, asking Congress for $1.52 trillion in discretionary spending for 2022, including major boosts in funding for education, health care, public housing and programs to…

Plus: Plus, the third largest monthly deficit on record

Manchin Throws Another Wrench Into Biden Agenda

Sen. Joe Manchin, the West Virginia Democrat who has emerged as a power center in the evenly divided Senate, made clear in an op-ed for The Washington Post Wednesday night that he opposes eliminating or weakening the filibuster and is…

Plus: Plus - Quick guide to ‘Bidenomics’

Biden’s Plan to Raise $2.5 Trillion in Corporate Taxes

The Biden administration on Wednesday unveiled its plan to overhaul the corporate tax code, providing a framework for raising trillions of dollars in revenue to help pay for the president’s ambitious economic agenda.

Plus: Plus, Biden says ‘changes are certain’ on infrastructure plan

Manchin Says He Won’t Back Biden’s 28% Corporate Tax Rate

President Joe Biden’s $2.25 trillion infrastructure plan is already running into some roadblocks, with Republicans making clear they oppose it — and some Democrats now indicating they’ll seek significant changes.

Plus: Plus, dozens of major corporations paid no federal income tax in 2020

McConnell Vows to Fight Biden’s Infrastructure Plan

The fight over President Joe Biden’s $2.25 trillion infrastructure plan is just getting started, and it’s bound to drag on far longer than the race to pass his $1.9 trillion Covid rescue law.

Plus: Plus, 5 things you should know about the Biden plan