Biggest Tax Hike on Wealthy Since 1993 Is Bogged Down in U.S. Congress
- Tax committees likely to miss Sept. 15 deadline to finish text
- Democrats divided on how much of Biden’s agenda to tackle
This article is for subscribers only.
Wealthy Americans wondering how much more taxes they’ll owe after Democrats pass their sweeping social-spending package may have to wait until deep into the fall, or later, to find out.
The tax-writing panels in the House and Senate had until Sept. 15 to finish writing the details of what would amount to the biggest tax-hike package since 1993. Those details are part of a legislative push that incorporates Democrats’ plans for ramping up spending on initiatives including health, child care and clean energy.