Politics White House strikes user fees as possible spending package pay-for
The 3 economic pledges that will shape Biden's $4 trillion bareknuckle fight over infrastructure
McConnell says he's 100% focused on stopping the Biden administration, setting up a prolonged clash over Biden's $4 trillion spending plans.The White House is now gearing up to shepherd $4 trillion in new spending plans through the cauldron of Congress. Democrats have paper-thin majorities in both the House and the Senate, where their control stems from Vice President Kamala Harris's tie-breaking vote.
The White House is not interested in introducing user fees to pay for its $4 trillion worth of spending proposals for infrastructure and social welfare programs.
User fees, including increasing the federal gas tax or rolling out a new vehicle miles traveled fee, would "violate" President Joe Biden's promise not to hike levies on people earning less than $400,000 a year, according to White House press secretary Jen Psaki.
"The president's pledge and his commitment, his line in the sand, his red line, whatever you want to call it, is that he will not raise taxes for people making less than $400,000, a year, user fees that have been proposed out there would violate that," Psaki told reporters Friday.
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You can listen to text and other elements on the screen read aloud via a couple of options in the latest flavor of Android.SEE: Android 11: New features for business users (free PDF) (TechRepublic)
The White House is closing in on its self-imposed deadline for negotiations to "progress" regarding Biden's $4 trillion-plus infrastructure and social welfare plans.
Republicans, led by West Virginia Sen. Shelley Moore Capito, have made a $568 billion counteroffer, covering traditional infrastructure projects, such as public transportation, water, and broadband investments. Senate Minority Leader Mitch McConnell has signaled his willingness to spend up to $800 billion on infrastructure.
At the same time, Republicans do not want to undo any of former President Donald Trump's 2017 tax cuts. Biden's idea to move the corporate tax rate up to at least 25% and the top marginal federal income tax rate to 39.6% would do just that. To bridge the divide, Virginia Democratic Sen. Mark Warner told Axios,
‘It's not phony’: Biden hungry for a jobs deal with Republicans
The president isn’t drawing many lines in the sand, either around negotiations with the GOP or making his proposal deficit neutral.And as it does, the president’s position on a potential compromise has come into sharper focus, according to interviews with more than a dozen White House officials, senior Democrats, and interest groups working with the White House.
The White House was expecting another compromise from Republicans next week, Psaki said. She described Biden's talks with Republicans as "a significant positive development."
"One of the proposals he made was having the IRS play more of a role and ensuring people are paying the taxes they owe, that's one component, but I do expect there may be components and proposals that are put forward that are discussed in these private discussions that may not cross either of those lines," Psaki added.
Biden's infrastructure plan includes $621 billion for transportation and resilience improvements, and another $111 billion for water, and $100 billion for broadband. In contrast,that $299 billion be spent on roads and bridges, $61 billion on public transit, $20 billion on rail, $35 billion on water, and $65 billion on broadband.
NYC mayor candidates claim median cost of Brooklyn home is below $100k
Shaun Donovan and Raymond McGuire both guessed extremely low numbers when asked by The New York Times about the median price of a home in the borough.Both Wall Street banker Raymond McGuire and former HUD Secretary Shaun Donovan own multimillion dollar properties; McGuire an apartment on the Upper East Side's iconic The San Remo building and Donovan a townhouse in Brooklyn.
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West Bank erupts in protest amid more Israel-Hamas fighting .
GAZA CITY, Gaza Strip (AP) — Turmoil from the battle between Israel and Hamas spilled over into the West Bank on Friday, sparking the most widespread Palestinian protests in years as hundreds of young demonstrators in multiple towns clashed with Israeli troops, who shot and killed at least 11 people. Israel's bombardment of the Gaza Strip continued into early Saturday, when an airstrike on a house in Gaza City killed at least seven Palestinians — the highest number of fatalities in a single hit. That strike came a day after a furious overnight barrage of tank fire and airstrikes that wreaked destruction in some towns, killed a family of six in their house and sent thousands fleeing their homes.