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Posted by: thepinetree on 09/13/2021 11:31 AM Updated by: thepinetree on 09/13/2021 11:31 AM
Expires: 01/01/2026 12:00 AM
:

"Build Back Better" Legislation to Include Broad Tax Increases for Many

Springfield, MA....Today, House Ways and Means Committee Chairman Richard E. Neal (D-MA) announced that the Committee will continue consideration of legislative proposals under the budget reconciliation instructions on Tuesday, September 14, 2021 at 9:00 a.m. ET and Wednesday, September 15, 2021 at 9:00 a.m. ET. The Committee will mark up measures to combat the climate crisis, create jobs, encourage economic and affordable housing development, extend tax cuts for workers and families, lower health care costs, and reinstate key tools to help states and localities finance investments, as well as measures on funding these priorities.





“On Tuesday, we will continue our work on the Build Back Better Act with the consideration of investments to provide critical support to families, spur the development of clean energy, reinstate Build America Bonds, and improve Americans’ ability to afford health care,” said Chairman Neal. “Our proposals allow us to both address our perilously changing climate and create new, good jobs, all while strengthening the economy and reinvigorating local communities. We seek to help families better afford essentials with the continuation of the expanded Child Tax Credit and investments that will lower the cost of prescriptions and health insurance premiums. And we can do all this while responsibly funding our plans. Taken together, these proposals expand opportunity for the American people and support our efforts to build a healthier, more prosperous future for the country.”

The markup on Tuesday and Wednesday will include measures that will:
  • Support clean energy investment and deployment, and the creation of good, well-paying jobs;
  • Extend the extremely impactful American Rescue Plan expansion of the Child Tax Credit, and makes permanent the American Rescue Plan expansions of the Earned Income Tax Credit and the child and dependent care tax credit;
  • Reinstate Build America Bonds and advanced refunding bonds to provide financing to state and local governments and spur investment in the private sector;
  • Expand proven tax credit programs that encourage economic and affordable housing investments in our communities that are most in need;
  • Lower prescription costs for Americans by allowing the HHS Secretary to negotiate for lower drug prices;
  • Provide immediate coverage for Americans in the Medicaid coverage gap;
  • Extend the American Rescue Plan’s expanded premium tax credits to help lower health insurance costs;
  • Mitigate wealth inequality and strengthen the progressive power of our tax system by increasing the individual tax rate, increasing the top capital gains rate, and adding a modest surtax on the highest-income taxpayers;
  • Level the playing field by cutting taxes for our nation’s smallest businesses and bringing the corporate rate to 26.5 percent;
  • Promote global competitiveness while ensuring that multinational corporations pay their fair share by better harmonizing the U.S. corporate minimum tax rate with the rate agreed to by over 130 countries in international negotiations; and
  • Invest in tax fairness by better equipping the IRS with updated technology and the human capital necessary for the complex audits of high-wealth individuals.
Section-by-Section of the Committee Print for Subtitles F, G, H, and J can be found HERE.
Section-by-Section of Subtitle I can be found HERE.

Full text:

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The comments are owned by the poster. We are not responsible for its content. We value free speech but remember this is a public forum and we hope that people would use common sense and decency. If you see an offensive comment please email us at news@thepinetree.net
Not a 'tax'.
Posted on: 2021-09-13 11:47:55   By: Anonymous
 
First of all, this isn't just a tax without something in return. Look at where the money is going before you comment. How many benefits are you getting?

Secondly... is the REALLY going to impact you? Yes, it will impact 'many.' Many who earn over $3M a year. And Many companies that don't pay any tax. "looking at you Amazon..."

Be thoughtful. How much is YOUR GIVE GET? For me, I'm getting more than I'm giving. Ironically, this is being pushed by the GOP, as they insist that these investments are offset by incremental Revenue, not more debt.

The plan would increase the corporate tax rate to 26.5% from 21%, impose a 3-percentage-point surtax on people making over $5 million and raise capital-gains taxes—but without the changes to taxation at death sought by the Biden administration.

The tax increase details were the last major missing piece in the Democratic agenda, and their release will accelerate lawmakers’ negotiations over which new spending to give priority to and which tax increases they find acceptable.

[Reply ]

    Re: Not a 'tax'.
    Posted on: 2021-09-13 11:49:16   By: Anonymous
     
    Medicare / SS Recipient... a win for me.

    And I'm happy to see the IRS get funded to chase the tax cheats for a change. Probably the only government agency that pays for itself if fully staffed.

    [Reply ]

    Re: Not a 'tax'.
    Posted on: 2021-09-13 11:53:28   By: Anonymous
     
    Only impacts you if you earn more than $400,000k a year.

    I don't want to hear from 99% who will never see that much income about 'socialism'. You're the winners on this one... Take the win.

    [Reply ]

      Re: Not a 'tax'.
      Posted on: 2021-09-13 12:01:32   By: Anonymous
       
      I'd be happy to see Bezos and Newsom and everyone else who makes $Millions a year pay a few more bucks. OK with me.

      [Reply ]

    Re: Not a 'tax'.
    Posted on: 2021-09-13 13:42:10   By: Anonymous
     
    Looks like a lot at first glance and why shouldn’t the most wealthy among us pay a little more? Oh, those Republicans - always ready to criticize what might help lift up others.

    [Reply ]

    Re: Not a 'tax'.
    Posted on: 2021-09-13 16:50:05   By: Anonymous
     
    Let’s get to some basics. Would it be a good idea to think and plan before you vote???? Now, it’s not not about either party, it’s about working Americans. I repeat, working Americans. Put all the B/S aside and get real! Thanks

    [Reply ]

SALT Relief
Posted on: 2021-09-13 11:51:37   By: Anonymous
 
It looks like this is going to help those of us in CA that Trump screwed by taking away the SALT deductions. I was so pissed at him for doing that that I had to hold my nose when I voted for him the second time. Ii suppose that's the benefit of the Dems... at least they give me back what I lost under Trump.

[Reply ]

    Re: SALT Relief
    Posted on: 2021-09-14 11:28:59   By: Anonymous
     
    Why should the rest of America take in the shorts because Commiefornians can take a huge SALT deduction because they let the Democrats tax them for everything. Wanna b*tch? Start with recalling Governor Hair Gel.

    [Reply ]

No Subject
Posted on: 2021-09-13 11:58:48   By: Anonymous
 
Tax the Rich!!!

[Reply ]

    Re:
    Posted on: 2021-09-13 12:00:35   By: Anonymous
     
    I guess that's what this is. A refreshing change to not see us middle class getting screwed.

    [Reply ]

      Re:
      Posted on: 2021-09-13 15:29:26   By: Anonymous
       
      LMAO 🤣🤣😆😆😆 the Middle Class not getting screwed? That's all that's been happening under Biden, and it's just the tip of the iceberg. Inflation is upon us, look at the prices in the grocery stores, the gasoline cost, energy cost, Natural gas is going to be about double this winter, yes that means propane as well.
      Businesses will not eat the cost that the government puts on them, the consumer will, that's you and me. The more the government spends and taxes us, borrows money from China, the faster and higher inflation will rise.
      Throwing this in your face to, this embarrassing pull out of Afghanistan, not telling our Allies, not keeping Bagram air base as Biden made the biggest military blunder in history pulling out theilitaty before citizens and Allies, giving terrorist 85 BILLION DOLLARS OF TOP OF THE LINE WEAPONS, all of that tax payer money. That's enough money we could of built SIX AIRCRAFT CARRIERS, SIX!!! Should of destroyed the equipment, brought it home but Biden didn't do any of that, his advisors didn't even try to keep the terrorist at bay. Why? Because he's nothing but a Puppet President, his administration is clueless on what they're doing. He has made a mess of too many things already and you don't think that the middle class won't feel any of this? If the republican cans were in charge and doing this, the same results would happen, at least on the middle-class paying for it all, we always do. As for Afghanistan, that's a Senile Joe, Dementia Joe, Cluster Fuk, no Republican would be so stupid to leave any American behind. Hands down one would have to be mentally incompetent to do something so low, so disgusting.

      [Reply ]

MAGA FAGs
Posted on: 2021-09-13 11:59:54   By: Anonymous
 
Ok... which one of you is this who decided to take a field trip?

MAGA terrorist of the day: A man from California was arrested Monday after he was found with multiple knives, a bayonet, and a machete in his truck outside the Democratic National Committee headquarters near Capitol Hill.



[Reply ]

    Re: MAGA FAGs
    Posted on: 2021-09-14 10:16:21   By: Anonymous
     
    Leftist terrorist of the month, Chicago mayor Lori Lightfoot. Chicago is already the most violent city in America and the murders in August went up, year over year, from 64 to 78. This is on Lightfoot and her anti police, pro criminal city council. Lightfoot is terrorist of the month!

    [Reply ]

Really John?
Posted on: 2021-09-13 12:01:15   By: Anonymous
 
Your Headline- ""Build Back Better" Legislation to Include Broad Tax Increases for Many"

This is supposed to cause reactionary outrage among the trumpbots.

They only see tax increases, and blow -up.

What is wrong for those who make $billions a years off of us to pay US taxes?

John, you will not see a tax increase yourself.

This is Yellow journalism- trying to stoke outrage, Hearst style.

Also Evangelicals are anti feeding starving children by USDA programs, or any government help, this to them is against "God's plan"

These Evangelicals are opposed to the Covid vaccine, yet when they get Covid they run to the hospital clog it up with unnecessary serious illness , and are causing basic hospital visits like heart attacks, and other basic health emergencies to wait, sometimes these people die.

It's time to call out those amongst us who chose superstition , political party cultism over science and common sense.

[Reply ]

    Re: Really John?
    Posted on: 2021-09-13 12:09:53   By: Anonymous
     
    Read the details. What pinetree wrote is factual nothing more. To call it anything else is a lie and yellow journalism. So if writing actual facts is yellow journalism God help us as we are toast as a nation.

    [Reply ]

      Re: Really John?
      Posted on: 2021-09-13 12:14:03   By: Anonymous
       
      The only real "policy" the left has is schadenfreude!

      [Reply ]

        Re: Really John?
        Posted on: 2021-09-13 12:29:57   By: Anonymous
         
        Triggered cons.
        The cons are so easily triggered, no thought, just immediate outrage.
        Facts are facts, they are not governed by immediate outrage.

        [Reply ]

          Re: Really John?
          Posted on: 2021-09-13 13:34:04   By: Anonymous
           
          Exactly. Someone once tried to argue on this site that all debt is bad.

          When I asked about 'good debt' - like building Highway 4, or a water reservoir, or school bonds, they couldn't wrap their head around why the private sector wouldn't do those things. (Can you imagine a company building Highway 4 to Alpine Like?).

          Anyway, It will be interesting to see the Pol debate this one. We'll see who is in whoms pocket from the lobbying. It's not going to be easy saying "Think of the poor 1% that only earn $400,000 - the 'so called job creaters'..."

          [Reply ]

      Re: Really John?
      Posted on: 2021-09-13 13:27:59   By: Anonymous
       
      It's the clickbait headline.

      If the headline was "No new taxes proposed for people under $400,000 in annual income.' nobody could click. They need the impressions to sell ad units.

      Media Literacy isn't great in this country.

      [Reply ]

        Re: Really John?
        Posted on: 2021-09-13 13:31:55   By: Anonymous
         
        Except that headline would have been an outright lie! :)

        [Reply ]

          Re: Really John?
          Posted on: 2021-09-13 13:40:06   By: Anonymous
           
          It would be the "truth" just like there is no way Covid escaped that lab.

          Fauci said masks aren't needed. Later saying well I only lied to you so that medical professionals could get masks.

          So the left is at it again. Your taxes won't go up but there is so much inflations that is a few years your $100k in household will be inflated to $400k to pay for your $20 loaf of bread.

          So yes your taxes are going up!! Everyone's are. Whether you call them taxes, inflation, user fees, access fees or any other alphabet soup of bilge.

          These policies kill economies in the long run. All you "science" lefties open up a history book from the 20s & 30s you might actually learn something.



          [Reply ]

          Re: Really John?
          Posted on: 2021-09-13 13:44:51   By: Anonymous
           

          Perhaps you need to read a second or third time.

          [Reply ]

            Re: Really John?
            Posted on: 2021-09-13 14:51:45   By: Anonymous
             
            The cons love their tax avoiding $Billionaires.

            Why they con you, rubes are easy. The Repub shtick, con the rubes.

            Invest in tax fairness by better equipping the IRS with updated technology and the human capital necessary for the complex audits of high-wealth individuals.

            [Reply ]

No Subject
Posted on: 2021-09-13 15:04:17   By: Anonymous
 
Who pays the majority of taxes in California? You got it right, the wealthy. Over 50% of you pay nothing! How can anyone vote for a party that now has a bill on Newsom’s desk outlawing all gas generators, lawn mowers, weed eaters, chain saws and other gas driven devices! This is not a joke! Not to mention a party that protects the Biden clan, starting with Hunter! Did anyone see Anthony Blinken *bleep* his pants when asked about issues pertaining to Hunter? That was today for your information. How could anyone vote for anyone in a party that supports the taking of a human life, and calls it a choice. So it may be alright for me to kill anyone with a heart beat I don’t like? How could anyone vote for a canidate that has released 1000’s of convicted felons on the street, too bad for you if you are law abiding! Who could vote for a canidate that supposedly represents all Californians, and allows a white person with a gorilla mask assault a black person and get a way with it? These aren’t wives tales, these are facts either the other party is for fairness for all, or they are the joke themselves!

[Reply ]

    Re:
    Posted on: 2021-09-13 15:44:41   By: Anonymous
     
    Those who are in agreement with raising taxes are all idiots! And I think you’re not going to get taxed more lol! I guess The dumb just keep getting dumber you will all pay!

    Not a single one of you thought for just a second about all the taxes we already pay and instead of reallocating some of those taxes and running it more like a business instead of a bunch of bureaucratic imbeciles. Like I said the dumb keep getting dumber

    [Reply ]

      Re:
      Posted on: 2021-09-13 17:00:32   By: Anonymous
       
      The Demorats are all in denial that their taxes will not increase with all of this spending. Bastard Biden does not know what the fuk he is doing in the White House and his Presidency has been a disaster from the beginning. This old fun needs to be impeached now!

      [Reply ]

      Re:
      Posted on: 2021-09-13 17:32:51   By: Anonymous
       
      These republicans that are anti-tax are just whores for corporations and the super
      rich. They get rich from stock tips, they get cushy "jobs" for their families and then when they retire or loose they get jobs on corporate boards or advisors, make a half a mil for nothing. It is brilliant that they used social issues like God and guns to get the gullible to vote against their own self interest. Remember when you all were so gung ho about the wars in the Iraq and Afghanistan? Their sons and daughters did not die, poor and middle class Americans did.

      [Reply ]

      Re:
      Posted on: 2021-09-13 17:38:22   By: Anonymous
       
      And there in lies the real truth. The rich will just move to other countries or find other ways to get their money out of the US.

      [Reply ]


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