According to numerous reports, President Joe Biden is planning to include “the first major federal tax hike since 1993” as part of his next economic spending bill, to “help pay for the long-term economic program designed as a follow-up to his pandemic-relief bill.”
As reported by Bloomberg News, “Unlike the $1.9 trillion Covid-19 stimulus act, the next initiative, which is expected to be even bigger, won’t rely just on government debt as a funding source.”
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