The Sound Guy
Pursuit Driver
Not nearly as big as the original, the tax hikes will cancel any benefits I would imagine. I wonder if anyone will be able to read this before it's voted on?
On the practical side, I also wonder what the affect on the GA Lottery will be if the Feds start paying for pre-school? Will all the proceeds go to college assistance?
******************************************
Biden reconciliation framework costs $1.75T, includes $1.995 trillion in tax hikes
The reconciliation framework President Biden plans to announce to House Democrats at their 9 a.m. caucus meeting will include an estimated $1.995 trillion pay-fors, including a tax on stock buybacks, efforts by the IRS to stop tax dodgers and more.The plan will also include a child tax credit, universal preschool, and a modified Medicaid expansion, among other things. Notably not in the plan are universal community college, paid family leave, and other policies.
"The president believes this framework will earn the support of all 50 Democratic senators and pass the House," a senior administration official said of the plan Thursday morning. "He will defer to Speaker Pelosi... on the specific timing of votes, but he will be full-throated that he believes each of these bills should pass when they come."
An official added: "We're not going to speak for any lawmakers from here… But our bottom line is we are confident that this will earn the support of every Democratic senator pass the House."
The White House estimates that its plan will cost $1.75 trillion, and that its pay-fors would raise $1.995 trillion. There is no bill text to these claims have not actually been evaluated by the Congressional Budget Office or any independent watchdogs.
