Stories tagged: "taxes"
If the country defaults on its debt, millions of people would lose their jobs, retirement accounts would be decimated, Social Security payments could be delayed, Medicare and Medicaid benefits could be affected, and military members could see paychecks delayed.
Republicans immediately rejected Biden's plan, but have yet to release their own budget. They have made it clear, however, that they want to apply deep spending cuts to everything from health insurance to food assistance benefits.
Biden’s blueprint includes several recently passed laws which are expected to create millions of good-paying jobs in construction, manufacturing, and other sectors.
Between Republicans’ economic agenda, spurious investigations, and threatened impeachments, the House is looking at a busy but unproductive year.
Republicans have said they want to extend the Trump tax cuts, which mostly benefited billionaires and corporations; cut spending on Social Security and Medicare; and repeal the Inflation Reduction Act, which lowered the cost of prescription drugs and raised taxes on corporations.
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"The money we raise will allow me to invest in working people and growing the middle class and advancing racial equity across the economy," Joe Biden said.
Undocumented immigrants have taxes taken out of their paychecks, yet they do not see any of the benefits such as social security.