The former president’s legal team has vowed to fight the congressional effort “tooth and nail.” He is virtually certain to appeal to the Supreme Court.
The Treasury secretary is traveling to Warsaw, Brussels and Bonn, Germany, this week at an uncertain time for the global economy.
The court dismissed a suit by the former president seeking to bar a House committee from getting his returns, but the judge stayed the ruling to allow time for an appeal.
Here are three options to shrink down the Democrats’ climate change and social welfare bill as moderates demand less spending and smaller tax hikes to pay for it.
Under pressure to cut the bill’s cost, Democrats disagree over whether to offer more benefits to older Americans or to cover more of the working poor.
Senior Democrats said they could still preserve elements of their plan to lower prescription drug prices, but they have little room for defections, and divisions remain on that and other issues.
In both the House and the Senate, Democrats are working to resolve their internal differences on a huge social policy measure that will require near-total unity to pass.
Several big details remain to be worked out before an international October deadline.
The House Ways and Means Committee’s proposal to pay for trillions in social spending leaves wealth gains and inheritances largely alone. It focuses instead on a more traditional target: income.
The draft proposal includes raising the corporate tax rate to 26.5 percent for the richest businesses to help pay for President Biden’s sweeping expansion of the social safety net.
The silence from Representative Richard Neal of Massachussetts has some liberal Democrats worried that he could thwart the scope of their economic ambitions.
Five committees will start drafting the components of Democrats’ far-reaching legislation in an arduous process that could take several days.
Congressional committees this week begin drafting tax increases on the wealthy and corporations to pay for a $3.5 trillion social policy bill, but the targets are putting up a fight.
Lawmakers in both parties are lining up to get their pet projects and policy priorities included in the expansive package.
Top Democrats and some of President Biden’s advisers are considering borrowing money to fund a sweeping infrastructure package as the nation’s fiscal situation improves more rapidly than expected.
Ms. Tai, a chief trade lawyer in the House, has extensive experience with China and played a key role in hammering out the new North American Free Trade Agreement.
Planned remarks to Congress by the administration’s top trade adviser on Wednesday appear to portend a continued fight with the World Trade Organization.
A bipartisan letter took issue with guidance about a tax credit for retaining workers during the pandemic that was part of an economic rescue package.