Skip to content
Subscriber Only

White House Is Hesitant on Proposed Tax Penalty: Stimulus Update

  • Check here for updates on Biden’s proposed $1.9 trillion plan
  • Wrangling over minimum wage complicates outlook in Senate
Bloomberg business news
House Set to Pass Stimulus as Minimum Wage Hike Dealt Blow
Updated on

The White House has declined to take a position on new proposals to impose a penalty on big U.S. companies as a way to push through a minimum-wage increase. The initiative put forward by two Senate committee chairs threatens to complicate passage of President Joe Biden’s $1.9 trillion pandemic-relief bill.

Senate Majority Leader Chuck Schumer is weighing adding a provision to the relief bill that would put a penalty tax on big companies that don’t pay workers at least $15 an hour, a Democratic aide said on condition of anonymity.