Biden's tax plan will fully pay for infrastructure proposal, Treasury Department says
CBSN
The Made in America Tax Plan would fully pay for the administration's more than $2 trillion infrastructure proposal over a 15-year period, according to an in-depth Treasury Department report released Wednesday.
President Biden aims to make American companies and workers more competitive by eliminating incentives to move investments overseas, cutting profit shifting, pushing back on what administration officials have called a "tax race to the bottom" and refocusing preferences on clean energy production, as his administration prioritizes the fight against climate change. Republican lawmakers and some business groups have already come out against the plan, arguing that raising corporate tax rates puts the U.S. at a competitive disadvantage around the world and would slow economic growth as the nation works to dig out of the economic crisis caused by the pandemic. Meanwhile, at least two Democratic senators and a number of House members have already expressed opposition to some of the hikes, making it virtually impossible to pass without additional changes.
Former heart surgeon and television host Dr. Mehmet Oz is set to face questions Friday from the Senate's finance committee over his nomination to head the Centers for Medicare and Medicaid Services under President Trump.
Santa Fe, New Mexico — A representative for the estate of actor Gene Hackman is seeking to block the public release of autopsy and investigative reports, especially photographs and police body-camera video related to the recent deaths of Hackman and wife Betsy Arakawa after their partially mummified bodies were discovered at their New Mexico home in February.
A judge in Maryland has blocked for now the mass firings of probationary federal workers and ordered thousands of fired probationary workers to be reinstated, marking the second decision of its kind in a day.
In the past year, over 135 million passengers traveled to the U.S. from other countries. To infectious disease experts, that represents 135 million chances for an outbreak to begin. To identify and stop the next potential pandemic, government disease detectives have been discreetly searching for viral pathogens in wastewater from airplanes. Experts are worried that these efforts may not be enough.
Washington — Irish Taoiseach Micheál Martin said he hopes dialogue can resolve the trade war between the U.S. and the European Union after President Trump Thursday threatened to impose 200% retaliatory tariffs on European wines and alcohols.
A former local mafia boss died Wednesday after he was shot in his car in the middle of a busy highway near the French city of Grenoble, local authorities and sources close to the case told French news agency AFP.
The Social Security Administration could soon lose as many as 10,000 workers, according to former agency leaders who expect a large portion of federal workers to accept a buyout offer from the agency.
Defense Secretary Pete Hegseth has ordered a review of military standards, including physical fitness, body composition and grooming. It's a review Hegseth promised during his confirmation hearing when questioned about his statements he's made that military standards have eroded.
Washington — Democratic Rep. Raúl Grijalva of Arizona died Thursday morning after "a long and brave battle" against cancer, according to his office.
Dollar General has a particularly clear view into the pocketbooks of low-income Americans, given those shoppers are the discount retailer's core customer base. And some are so financially pinched they can no longer afford basic necessities, the chain relayed on Thursday.
President Trump has made a number of inaccurate claims about Canada in the past week as he imposed new tariff hikes on the country and touted his plans for more.
Those who glance up at the sky tonight will have an opportunity to catch the March 2025 "Blood Moon," a phenomenon that colors the full moon in shades of red, orange and yellow during a total lunar eclipse.
A 37-year-old man died after falling from a chairlift that was having a mechanical problem at a Montana ski area, according to local authorities and a spokesperson for Red Lodge Mountain.