Democrats’ planned tax increases on businesses and high-income people are in jeopardy due to Sen. Sinema’s opposition, people familiar with the matter said
, moving the top individual rate to 39.6% from 37% and increasing the top capital-gains rate to 28.8% from 23.8%. Their plan would also add a 3% surtax on income above $5 million.
, Senate Majority Leader Chuck Schumer and White House officials on Wednesday and discussed revenue measures. Mr. Wyden, whose committee circulated a menu of tax-raising options earlier this year, has continued to push for an annual tax on billionaires’ unrealized capital gains. That idea, for which Mr. Biden recently expressed support, would affect a narrower group of people than the capital-gains changes that have already flopped among congressional Democrats.The Democrats’ plan to pay for President Biden’s $3.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Kyrsten Sinema Is at the Center of Democrats’ Tax-Hike FightSen. Kyrsten Sinema has emerged as one of the most powerful Democrats in Washington, with her concerns about the size and funding for Democrats’ social policy and climate package dictating what the party will be able to pass
Read more »
WSJ News Exclusive | Democrats’ Planned Tax-Rate Increases in Jeopardy Due to Sinema’s OppositionSen. Kyrsten Sinema has told lobbyists that she is opposed to any increase in tax rates on businesses, high-income individuals or capital gains. Her stance is now pushing Democrats to more seriously plan for a bill that doesn’t include those major revenue increases.
Read more »
WSJ News Exclusive | RV Capital of America Tops WSJ/Realtor.com Housing Index in Third QuarterElkhart, Ind., topped the housing index this quarter, as high housing costs and remote-work opportunities drive many home buyers to seek out more living and outdoor space.
Read more »
Why Kyrsten Sinema Is at the Center of Democrats’ Tax-Hike FightSen. Kyrsten Sinema has emerged as one of the most powerful Democrats in Washington, with her concerns about the size and funding for Democrats’ social policy and climate package dictating what the party will be able to pass
Read more »
White House mulls Plan B, with new taxes for billionaires, stock buybacks: reportFacing opposition to corporate tax hikes, the Biden administration is reportedly seeking alternatives to how to pay for its multi-trillion-dollar spending plans.
Read more »
WSJ News Exclusive | Cushman & Wakefield to Buy 40% Stake in Greystone Multifamily Business for $500 MillionThe commercial real estate services giant has agreed to pay $500 million for a 40% stake in the rental apartment lending and loan servicing business owned by Greystone, the latest sign of the strength of the rental apartment industry.
Read more »