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McConnell Says GOP Won t Support Infrastructure Plan

Caroline Brehman/POOL/AFP via Getty Images Senate Minority Leader Mitch McConnell said the infrastructure package won t get GOP votes, per Politico. McConnell had already criticized the package, calling it a missed opportunity. Lack of GOP support would mean that Democrats may have to use reconciliation to pass it. Senate Minority Leader Mitch McConnell said President Joe Biden s new infrastructure package won t get any Republican votes in the Senate, Politico reports. At a Kentucky event, McConnell reportedly criticized the package for the impact it could have on debt, and the accompanying proposal to hike taxes on corporations. That package that they re putting together now, as much as we would like to address infrastructure, is not going to get support from our side, McConnell said, per Politico. Because I think the last thing the economy needs right now is a big, whopping tax increase.

United statesWhite houseDistrict of columbiaJoe manchinJoe bidenSenate majority leader chuck schumerSenate minority leader mitch mcconnellSenate republicansMinority leader mitch mcconnellPresident joe bidenAmerican rescue planMajority leader chuck schumerInfrastructure billInfrastructure spendingMitch mcconnellChuck schumer

Biden advisors plan up to $3 trillion more spending on infrastructure, universal pre-K, climate-change initiatives

Biden advisors plan up to $3 trillion more spending on infrastructure, universal pre-K, climate-change initiatives
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United statesJuliana kaplanஒன்றுபட்டது மாநிலங்களில்ஜூலியானா கபிலன்

Janet Yellen working on overhauling global minimum corporate tax rate

Close icon Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Treasury Secretary Janet Yellen. The Washington Post reports Treasury Secretary Yellen is working on a global minimum tax rate. The nonbinding rate would apply to multinationals, as she seeks to keep them from shopping for the lowest territory. Yellen and Biden want to raise the corporate tax rate but need the rest of the world onboard. Treasury Secretary Janet Yellen has been clear since her confirmation hearing and subsequent press appearances that the Biden administration needs to raise new tax revenues. At the same time, she s warned of the difficulties of implementing a wealth tax, which is favored by the progressive wing of the Democratic Party.

United statesFrance generalJeff steinJanet yellenDonald trumpJoseph stiglitzJoe bidenWashington postDemocratic partyTax foundationOrganization for economic cooperationTreasury secretary yellenSecretary janet yellenPresident donald trumpEconomic cooperationGlobal tax reform

Unemployment benefits aren t getting taxed, but people may not know

Ben Sklar / Stringer/Getty Images Unemployment benefits up to $10,200 won t be taxed, per a provision in the new stimulus package. That might be news for many Americans, some of whom were hit by surprise tax bills. The CEO of H&R Block told Insider that the IRS hasn t decided on how they ll execute the change. Over the weekend, I went for a long-needed haircut. I had received my first shot of the Pfizer-BioNTech shot about two weeks earlier, and knew that I had some vaccine protection; I was eager to finally get a professional cut. When I got there, we began chatting about life and work. I started to talk about my coverage of the recent stimulus package, and some of the things that I wish more people knew about, like the historic investment in Native programs. One little known provision I was also fond of: Unemployment benefits up to $10,200 would no longer be taxed for those making up to $150,000.

United statesJoseph zeballos roigJeff jonesSenate democratsWashington postHr blockCentury foundationChild taxUnemployment benefitsAmerican rescue planStimulus planStimulus packageJuliana kaplanNick lichtenbergஒன்றுபட்டது மாநிலங்களில்ஜோசப் ஜேபல்லோஸ் ராய்க்

The average homebuyer now needs to pay above asking price

The average house is selling for over asking price, Redfin found, the latest example of the K-shaped recovery and how 2020 broke the housing market.

New yorkUnited statesTaylor bordenHillary hoffowerDaryl fairweatherNational association of realtorsNational associationReal estateHome salesHomes for saleK shaped recoveryJuliana kaplanபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்டெய்லர் பார்த்தேன்ஹிலாரி ஹொப்பொவேற்