Steven T. Dennis

President Joe Biden’s plan to tax unrealized capital gains ran into opposition from key Democratic Senator Joe Manchin, likely dooming it just hours after it was sent to Congress.

Senator Joe Manchin threw more cold water on the president's spending plans after inflation spiked to a 7.5% in January, the highest rate in four decades.

One key holdout — Senator Joe Manchin — said he’s skeptical he can vote for a bill that includes major economic changes.

The Senate Republican leader ridiculed a tax plan targeting the unrealized capital gains of the ultra wealthy as a “harebrained scheme.”

Senate Democrats are discussing a wider range of tax proposals than President Joe Biden has proposed, including levies on stock buybacks, carbon emissions and executive compensation, as part of a package of measures to help fund a ramping up in social spending.

Among the unresolved issues is how to modify a provision dealing with reporting requirements for cryptocurrency transactions.

A Senate plan to spend $550 billion on U.S. infrastructure stands to benefit industries heavily dependent on transportation.

The $550 billion infrastructure bill that would provide the biggest infusion of federal spending on public works in decades.

The Senate Majority Leader will take a preliminary step Monday that would lead to a first test vote on the infrastructure plan by Wednesday. He set the same day as a deadline for all Senate Democrats to unite behind a budget blueprint.

Senate Democrats on the Budget Committee agreed to set a $3.5 trillion top-line spending level for a bill to carry most of President Joe Biden’s economic agenda into law without Republican support, bridging divisions — for now — among some party factions.

The president’s plan for trillions in proposed spending and tax increases is likely to take at least until September to clear.

Lawmakers are trying to hash out a compromise $1.2 trillion, eight-year infrastructure spending package.

GOP lawmakers reject the White House’s latest counteroffer of $1.7 trillion as too costly and object to corporate tax increases.

The Senate Republican leader ripped the president's plan to end a tax break that lets the richest Americans transfer much of their wealth tax-free at death.

President Joe Biden is on the cusp of his first legislative win with the House ready to give final passage to his $1.9 trillion COVID-19 relief plan. It includes a big expansion in the child tax credit and makes student loan forgiveness tax free.

Senator Elizabeth Warren said IRS funding should be bolstered so the richest Americans get audited about once every three years as part of her proposed 2 percent annual tax on wealth in excess of $50 million.

Senate Democrats are jettisoning a proposal to penalize corporations that don’t raise the minimum wage for their lowest-paid workers in an effort to keep President Biden’s broader stimulus plan on track.

Two Senate committee chiefs are looking at ways to raise taxes on companies paying workers less than $15 an hour, as part of a new strategy to include President Joe Biden’s push to boost the minimum wage to that level in his COVID-19 aid bill.

The Senate voted 51-50, after Vice President Kamala Harris broke her first tie, to adopt a budget blueprint for President Joe Biden’s $1.9 trillion virus relief package — following nearly 15 hours of wading through amendments from both parties.

Democrats’ go-it-alone stimulus plan faces night of GOP sniping