Democrats on the House Ways and Means Committee — which plays a key role in determining tax policy and other fiscal measures — are drafting a proposal to raise $2.9 trillion in new taxes.
The proposed tax <a href="https://waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/SubtitleISxS.pdf">hikes</a> — which would occur over the course of ten years — were introduced by Ways and Means Committee Chairman Richard Neal (D-MA) as Congressional Democrats attempt to pass a separate $3.5 trillion social welfare agenda without any support from Republican colleagues. The <a href="https://www.dailywire.com/news/senate-advances-3-5-trillion-budget-resolution-with-no-republican-support">outline</a> of the omnibus legislation — which incorporates key elements of the <a href="https://www.dailywire.com/news/nonpartisan-economists-say-bidens-infrastructure-plan-will-decrease-economic-growth">American Jobs Plan</a> and <a href="https://www.dailywire.com/news/bidens-american-families-plan-is-far-from-a-new-deal-economic-boon">American Families Plan</a> — includes universal pre-K, &#8216;tuition-free&#8217; community college, a paid family and medical leave handout, additional health benefits for Medicare, and a “Civilian Climate Corps.”

How The Democrats’ New Tax Hike Will Impact Your Wallet

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— Analysis —

How The Democrats’ New Tax Hike Will Impact Your Wallet