Dozens of House Democrats have introduced legislation to expand the estate tax, as progressives make a push to substantially increase taxes on wealthy individuals.Rep. Jimmy GomezJimmy GomezHouse Democrats offer bill to expand the estate tax House Democrats blur lines on support for impeachment Here are the 95 Democrats who voted to support impeachment MORE (D-Calif.), the lead sponsor of the bill and a member of the tax-writing House Ways and Means Committee, cast the measure as a way to address inequality in the country."Through my legislation – the For the 99.8% Act – we can take a progressive step forward in addressing our country’s rapidly increasing wealth inequality by strengthening the estate tax and ensuring the wealthiest among us pay their fair share," he said in a press release on Friday.ADVERTISEMENTGomez's measure is identical to a bill Democratic presidential hopeful Sen. Bernie SandersBernie SandersTrump to hold campaign rally in Michigan … [Read more...] about House Democrats offer bill to expand the estate tax
Corporation tax law
By presidential campaign standards, Pete Buttigieg has been pretty much an open book — but with one chapter missing.The Democratic South Bend, Ind., mayor has let reporters sit on his campaign bus and pelt him with questions until they get tired; he’s spoken at length about his personal experience coming out as a gay man; he’s shown a willingness to face some of his most withering critics.But Buttigieg won’t talk about his three years of work for McKinsey & Co., the famous, secretive — and lately, notorious — management consulting firm.Almost a decade after leaving McKinsey in 2010, Buttigieg is still bound by a nondisclosure agreement that his campaign says McKinsey is refusing to lift, leaving a large hole in the 37-year-old’s otherwise closely examined life story. Advertisement “We have asked McKinsey to be released from the NDA in full, and we have asked McKinsey if we can release a list of clients,” campaign spokesman Sean … [Read more...] about A secretive corporation won’t let Pete Buttigieg talk about three years of his life
The Senate on Wednesday rejected a Democratic effort to overturn IRS regulations blocking workarounds to a portion of President TrumpDonald John TrumpTrumps light 97th annual National Christmas Tree Trump to hold campaign rally in Michigan 'Don't mess with Mama': Pelosi's daughter tweets support following press conference comments MORE’s tax law that is disliked by high-tax states.The Senate voted against the Democrats’ resolution, introduced by Minority Leader Charles SchumerCharles (Chuck) Ellis SchumerOvernight Health Care — Presented by Johnson & Johnson — Democrats call on Supreme Court to block Louisiana abortion law | Michigan governor seeks to pause Medicaid work requirements | New front in fight over Medicaid block grants House, Senate Democrats call on Supreme Court to block Louisiana abortion law Why a second Trump term and a Democratic Congress could be a nightmare scenario for the GOP MORE (D-N.Y.), by a vote of 43-52. It was a mostly … [Read more...] about Senate rejects Dem measure to overturn IRS rules on SALT deduction cap
Last week, Sen. Maria CantwellMaria Elaine CantwellHillicon Valley: House passes anti-robocall bill | Senators inch forward on privacy legislation | Trump escalates fight over tech tax | Illinois families sue TikTok | Senators get classified briefing on ransomware Senators want FERC to protect critical infrastructure from Huawei threats Senators inch forward on federal privacy bill MORE (D-Wash.), joined by Sens. Ed MarkeyEdward (Ed) John MarkeyTrump administration drops plan to face scan all travelers leaving or entering US Advocates hopeful dueling privacy bills can bridge partisan divide Protecting the future of student data privacy: The time to act is now MORE (D-Mass.), Brian SchatzBrian Emanuel SchatzAdvocates hopeful dueling privacy bills can bridge partisan divide Key Senate Democrats unveil sweeping online privacy bill GOP braces for Democratic spending onslaught in battle for Senate MORE (D-Hawaii) and Amy KlobucharAmy Jean KlobucharCastro hits fundraising threshold for … [Read more...] about There’s a lot to like about the House privacy bill, if it’s not watered down
The revolution will not be deficit-neutral. Photo: Don Emmert/AFP/Getty Images Last year, House Republicans voted to add $1.5 trillion to the deficit, for the sake of delivering enormous tax breaks to the wealthy and corporations. Now, as one of their first acts upon taking power, House Democrats are preparing to prohibit themselves from adding a penny to the deficit for any purpose — including investments in things like climate preparedness, which could plausibly pay for themselves in the long run. This plan has outraged the party’s far-left flank, seeding a (small-scale) rebellion against Nancy Pelosi’s leadership before she’s even taken the Speaker’s gavel. And all of this constitutes a welcome sign of progress. But before we examine why this particular episode of “Dems in Disarray” is a happy one, let’s take a more detailed look at the plot. The Washington Post’s Mike DeBonis and Jeff Stein offer a succinct synopsis: House … [Read more...] about Democrats Are Fighting About Whether Deficits Matter. That’s Good.