Taxes

Biden's planned tax hikes could extinguish any hope Democrats have of maintaining their governing trifecta in the 2022 midterm elections, according to some experts.

Senate Democrats unveiled a proposal this week to tax the unrealized capital gains of wealthy Americans' estates after they die.

President Biden on Wednesday unveiled details of a sweeping $2.25 trillion infrastructure that would be funded by dramatically raising the taxes paid by U.S. corporations, an increase that could have a detrimental side effect on the U.S. economy, according to one analysis. 

Sen. Mitch McConnell blasted President Biden's $2 trillion infrastructure plan Wednesday, claiming the proposal is a “Trojan horse” for major tax increases.

Rep. Kevin Brady, R-Texas, argued that Biden's infrastructure plan - which is to be funded by corporate tax increases - will hurt the U.S. economy.

President Biden released a sprawling proposal to rebuild the nation's crumbling infrastructure and pump money into manufacturing, transportation, renewable energy and combating climate change.

Rep. Scott Perry, R-Pa., on spending, infrastructure and taxes under the Biden administration.

Progressive Democrats are leaning on President Biden to dramatically increase the size of his next big-ticket economic spending bill, unveiling on Monday a new bill that would invest $10 trillion in renewable energy, green infrastructure and climate justice initiatives over the next decade. 

Democrats are making a push for President Biden to repeal the controversial $10,000 cap on state and local tax deductions as he considers several tax proposals to fund forthcoming infrastructure legislation.