Democrats Hit Tax Snag As They Finalize Build Back Better Deal

[UCmeNdc]

“Every sensible revenue option seems to be destroyed,” Sen. Bernie Sanders complained Wednesday.

Party leaders are trying to win over two senators who have mutually exclusive demands: Sen. Kyrsten Sinema (Ariz.) won’t support higher tax rates, and Sen. Joe Manchin (W.Va.) doesn’t like the new capital gains tax idea that was supposed to be a palatable alternative.

“Every sensible revenue option seems to be destroyed,” Sen. Bernie Sanders (I-Vt.) said Wednesday, offering a gloomy summary of the conundrum Democrats find themselves in.

“Should we raise corporate tax rates, personal income taxes for the very wealthy? Of course we should, but at least one person in the caucus doesn’t want to do that,” Sanders continued. “Should we demand that the billionaires pay their fair share of taxes? Yes. There’s another person who doesn’t want to do that.”

Democrats are hoping to seal the outlines of a deal by Wednesday evening before President Joe Biden departs the country to attend a global climate conference in Scotland. They can’t move forward until they lock down the revenue side of the negotiations, which will in turn determine what sorts of programs they can include in the bill.

The Senate Finance Committee this week unveiled two proposals aimed at raising hundreds of billions in revenue to offset the cost of the bill — a corporate minimum tax, which appears to have unanimous Democratic support, as well as a “billionaires’ income tax” that would target the roughly 700 wealthiest Americans.

https://www.huffpost.com/entry/biden-taxes-manchin-sinema_n_61798a8ee4b065735743e3d2

[msongs]

1. the party has been hijacked by saboteurs and 5th columnists nt

[JustAnotherGen]

2. I know where this is heading

They are going to raises taxes on people making less than 400K. There's no way to do it.

And it will most likely be blue state households that take the hit.

If that SALT cap isn't lifted - Mikie Sherrill, Gottheimer, and Malinowski don't get re-elected in NJ next year. It's not happening. If our taxes go up more - and that's on the table this weekend - just days before our election here. . .

We could lose our blue government in Trenton. Not happy right now.

[Joinfortmill]

3. Biden should tell Americans every single item

These two want to throw out.