Huge fight looms over raising taxes
By Naomi Jagoda - 03/16/21 06:00 AM EDT Washington is gearing up for a battle over raising taxes as President Biden looks for a way to pay for his agenda while Republicans are planning to dig in their heels ahead of the 2022 elections.
Biden last week signed a $1.9 trillion coronavirus relief package that was mostly deficit-financed. The White House and congressional Democrats are now turning their attention to another economic recovery package, possibly focused on infrastructure, jobs and climate change. A key question will include if and how to pay for such a proposal.
Biden proposed a slew of tax increases during his presidential campaign that are expected to be on the table as part of the discussions. But they will face fierce opposition from Republicans and business groups, jeopardizing any attempt to pass an economic package on a bipartisan basis.
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https://thehill.com/policy/finance/543314-huge-fight-looms-over-raising-taxes
