Jennifer Jacobs
ReporterJennifer Jacobs is a reporter with Bloomberg.
Jennifer Jacobs is a reporter with Bloomberg.
President Joe Biden said anyone earning more than $400,000 a year would see a tax increase under his forthcoming economic program, highlighting the administration’s plans to address inequality in part through levies on the wealthy.
The administration wants employers, not employees, to be responsible for paying back the Social Security levies when they come due next year.
The Treasury Secretary is expected to seek a third round of coronavirus-related economic stimulus, including postponing the due date for quarterly tax payments.
The president spoke to Republicans at their weekly conference lunch at the Capitol as his administration prepares a package of economic measures to combat the fallout from the coronavirus outbreak.
President-elect Donald Trump is considering nominating ex-U.S. Attorney Debra Wong Yang to run the Securities and Exchange Commission, said a person with direct knowledge of the matter.