Rice and two other House Democrats oppose aggressive drug price reform, which provides the budget savings available to fuel spending in the Build Back Better Act.
The Democratic-led House Ways and Means Committee voted 24-19 to approve the tax-related portions of the bill, which include raising the top income tax rate to 39.6% from 37% and the top corporate tax rate to 26.5% from 21%.
House Democrats began the serious work of trying to implement President Joe Biden’s expansive spending plan, but getting there will require remarkable legislative nimbleness, since Biden has said the revenue to pay for it must come only from Americans who earn more than $400,000 a year. Republicans, who have vowed lockstep opposition to the plan,…