House Democrats on Monday released tax-increase legislation that scales back some of President Biden Joe Biden Jill Biden campaigns for McAuliffe in Virginia Fill the Eastern District of Virginia Biden: Those who defy Jan. 6 subpoenas should be prosecuted MORE 's key proposals as they work to craft a massive social spending package that can get the votes to become law. The bill text released Monday by the House Ways and Means Committee includes a variety of tax increases targeted at wealthy individuals and corporations in an effort to help pay for $3.5 trillion in spending and tax cuts in areas such as child care, climate and health care. But in many ways it is not as aggressive in raising taxes as Biden has proposed, prompting criticism from progressive groups. ADVERTISEMENT "They have a once in a lifetime opportunity to address the egregious, unfair treatment that the wealthy get in the tax code, and the committee has refused to do it," said Erica Payne, president and founder of the Patriotic Millionaires. There are several areas where House Democrats' proposal does not go as far in increasing taxes on corporations and the rich as Biden had proposed earlier this year. The… Read full this story
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