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House committees to vote on D.C. statehood and reparations bills

House committees vote on D.C. statehood and reparations bills
Grace Segers
© Samuel Corum/Bloomberg via Getty Images
President Biden s Hopes For GOP Backing On Next Economic Plan Shrinking
Washington Two House committees took up measures long championed by progressives on Wednesday, signaling that congressional Democrats are willing to move forward with their priorities despite narrow majorities in the House and Senate. One panel voted to advance a bill to admit Washington, D.C., as a state, while the other approved a measure that would create a commission studying reparations for descendants of slaves.
Inside the push for D.C. statehood ....

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House committees vote on D.C. statehood and reparations bills

House committees vote on D.C. statehood and reparations bills
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What to watch for in a rising tax environment | Retirement Income Channel

On March 11, President Biden signed the $1.9 trillion American Rescue Plan Act into law. This comes on the heels of $2.6 trillion in COVID-related spending in 2020. According to the Government Accountability Office, the U.S. national debt hit $26.9 trillion as of September 30, 2020 with the $4.2 trillion increase over 2019 being the highest on record.
1 With this as background, it probably surprised very few people when Bloomberg News recently announced: “Biden Eyes First Major Tax Hike Since 1993 in Next Economic Plan.”
2
Yes, the prospect of higher taxes in our not too distant future is real. The question is what higher tax rates will look like and who will be impacted? While there is a long way to go between now and the passage of major tax legislation, initial indications seem to be positive for most retirees. ....

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Immigration bills passed in House face uncertain fate in Senate

Immigration bills passed in House face uncertain fate in Senate
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Biden Drones: NBC & CBS Ignore, ABC Defends Biden Eyeing 'First Major' Tax Hike Since 1993

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The ABC, CBS and NBC evening news shows have been behaving like President Joe Biden’s drones by shielding his administration from any news that could damage his image on the economy.
Bloomberg News released a story yesterday headlined, “Biden Eyes First Major Tax Hike Since 1993 in Next Economic Plan.” The story said that, unlike the massive $1.9 pork-filled stimulus package, “the next initiative, which is expected to be even bigger, won’t rely just on government debt as a funding source.” Rather, “key advisers are now making preparations for a package of measures that could include an increase in both the corporate tax rate and the individual rate for high earners.” Biden’s new tax hikes would be on top of the $60 billion in tax hikes Democrats already snuck into the stimulus bill, despite reported hesitancy “to raise taxes amid [a] pandemic.” ....

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