Days after the bipartisan deal on the debt limit became law, House Republicans proposed a slew of tax cuts, leading to charges of hypocrisy by Democrats in a squabble that
Just six days after the bipartisan deal on the debt limit became law, House Republicans proposed a slew of tax cuts, leading to charges of hypocrisy by
Who gets a break? Clashing ideas on tax relief are teed up | New Orleans CityBusiness neworleanscitybusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from neworleanscitybusiness.com Daily Mail and Mail on Sunday newspapers.
Just six days after the bipartisan deal on the debt limit became law, House Republicans proposed a slew of tax cuts, leading to charges of hypocrisy by Democrats in a squabble that shows two clashing visions for the U.S. economy. GOP lawmakers are pushing deep tax cuts for companies and the affluent as the primary driver for sustaining economic growth, while President Joe Biden and fellow Democrats seek more targeted tax cuts to achieve social goals such as reducing child poverty and shifting to renewable energy that can help the economy in the long run. The Republican tax cuts for businesses, coupled with an increase in the standard deduction for households, would be funded by wiping out $216 billion in tax breaks over 10 years that Biden signed into law last year to support the development of electric vehicles and renewable energy.