Tax Debate Will Make or Break Biden’s Agenda

Bloomberg: “Moderate and progressive Democrats are on a collision course over how to pay for President Joe Biden’s economic agenda, a disagreement that has the potential to stall the legislation or sink it entirely.”

“Moderates want a smaller overall package of tax increases and are hesitating on some of Biden’s plans. Progressives view a total rewrite of the tax code as a moral imperative in order to fund social programs and climate measures as well as address a widening wealth gap.”

Said House Ways and Means Chairman Richard Neal (D-MA): “Sometimes in congressional life people want their dessert without having their vegetables. That generally doesn’t work with revenue.”