Politics


Posts filtered by tags: Ayelet Sheffey[x]


 

America's safety net only aids 3 out of 10 unemployed workers without a permanent fix, study finds

Sen. Michael Bennet (D-CO), accompanied by Sen. Ron Wyden (D-OR). Reuters The Center on Budget and Policy Priorities said the unemployment insurance system needs urgent reform. It cited disproportionate benefits to white workers and only 3 in 10 eligible workers receiving benefits. Biden included UI reform in his infrastructure plan, but its details weren't "fully baked," an expert said. See more stories on Insider's business page. To help Americans struggling during the pandemic, ...
Tags: Congress, Colorado, Oregon, White House, America, Trends, Joe Biden, Biden, Wyden, Democratic, Center on Budget and Policy Priorities CBPP, Budget and Policy Priorities, CBPP, Sen Ron Wyden, Michael Bennet, Sens Ron Wyden


Most voters support Biden's American Families Plan, poll finds

President Joe Biden addresses a joint session of Congress as Vice President Kamala Harris (L) and Speaker of the House U.S. Rep. Nancy Pelosi (D-CA) (R) look on in the House chamber of the Capitol. Doug Mills/Getty Images A Morning Consult/Politico poll found 58% of voters support Biden's American Families Plan. Individual provisions within the plan, such as universal pre-K, are even more popular. Republican lawmakers oppose the scope and price of the plan, calling it a "$4.1 trillion ...
Tags: Congress, Washington Post, Senate, White House, Trends, Joe Biden, Gop, House, Mitch McConnell, Nancy Pelosi, Republican, Biden, Kamala Harris, Democratic, Internal Revenue Service, McConnell


Biden's American Families Plan will cost $700 billion more than White House estimates, report finds

President Joe Biden. Melina Mara/The Washington Post via AP, Pool Penn Wharton Budget Model predicted Biden's infrastructure plan will cost $2.5 trillion over 10 years. It also said the plan will raise $1.3 trillion in tax revenue and increase government debt by 5% in 2050. GOP lawmakers introduced a $568 billion counter-proposal, which Democrats called "a slap in the face." See more stories on Insider's business page. President Joe Biden unveiled his $1.8 trillion American Familie...
Tags: Washington Post, Senate, White House, Politico, West Virginia, Trends, Joe Biden, Gop, Republican, Biden, Internal Revenue Service, Sen Shelley Moore Capito, Ayelet Sheffey, American Families Plan, PWBM, Joe Biden Melina Mara


Treasury Secretary Janet Yellen says a 'shocking' $7 trillion in taxes is going uncollected

Treasury Secretary Janet Yellen. Manuel Balce Ceneta/AP Yellen told The Atlantic that the tax gap was a "shocking" $7 trillion over a decade. Her remarks reflect the White House's resolve to collect taxes from high earners and big firms. The Treasury has said the tax gap could worsen if no additional action is taken. Sign up for our daily newsletter 10 Things in Politics You Need to Know Today. Treasury Secretary Janet Yellen said a "shocking" amount of taxes was going uncollected by t...
Tags: Congress, White House, Trends, Joe Biden, Atlantic, New York Times, Treasury, Janet Yellen, Federal Reserve, Biden, Wall Street Journal, Irs, Yellen, Fed, Treasury Department, Charles Rettig


Treasury Secretary Janet Yellen says a 'shocking' $7 trillion in taxes are going uncollected

Treasury Secretary Janet Yellen. Manuel Balce Ceneta/AP Yellen told The Atlantic that the tax gap is a "shocking" $7 trillion over a decade. Her remarks reflect the White House's resolve to collect taxes from high earners and big firms to cover their spending. Treasury has said the tax gap could worsen if no additional action is taken. See more stories on Insider's business page. Treasury Secretary Janet Yellen said a "shocking" amount of taxes are going uncollected by the federal ...
Tags: Congress, White House, Trends, Joe Biden, Atlantic, Treasury, Janet Yellen, Federal Reserve, Biden, Irs, Yellen, Fed, Charles Rettig, Treasury the IRS, Treasury Department Treasury, Ayelet Sheffey


The Elizabeth Warren ally just picked to oversee US student loans could help make her debt-cancelation dream come true

Sen. Elizabeth Warren (D-MA). Chip Somodevilla/Getty Images Former CFPB head Richard Cordray will lead the Federal Student Aid office, which oversees student debt. Elizabeth Warren helped create the CFPB and was key in nominating Cordray when she couldn't helm the agency. Warren wants to cancel $50,000 in student debt per person and Cordray has shared her agenda for much of his political career. See more stories on Insider's business page. Since she was elected to the Senate almost...
Tags: Obama, Senate, Elizabeth Warren, US, Barack Obama, Trends, Harvard, Washington Dc, Warren, Ohio, Corinthian Colleges, Biden, Marketwatch, Mark Brown, CFPB, Navient


Can't find chicken wings, diapers, or a new car? Here's a list of all the shortages hitting the reopening economy.

Empty shelves and shoppers are visible at a Target retail store during an outbreak of the COVID-19 coronavirus in Contra Costa County, Dublin, California, March 15, 2020. Photo by Smith Collection/Gado/Getty Images As the US economy increasingly reopens, the economy is seeing shortages of all sorts of items. If you've tried to buy (or rent) a car or eat some chicken wings, you've probably noticed. Insider rounded up some of the major shortages across the US economy, and why they...
Tags: Apple, Post, Texas, Washington, White House, China, US, America, Los Angeles, Trends, Opec, Bloomberg, Joe Biden, Intel, Brazil, Argentina


Biden won't get all his tax increases through Congress. Here's what Morgan Stanley thinks is possible.

President Joe Biden and First Lady Jill Biden. Alex Wong/Getty Images President Joe Biden wants to pay for his infrastructure proposals with tax increases. Morgan Stanley strategists predict taxes will go up, but not as much as Biden's proposing. Still, it said Americans earning over $400,000 should expect to see their income tax rate increase. See more stories on Insider's business page. President Joe Biden wants to increase taxes on some of the country's highest earners to pa...
Tags: Obamacare, Congress, Senate, White House, West Virginia, Trends, Joe Biden, Gop, Biden, Morgan Stanley, Irs, Manchin, Department of Treasury, Joe Manchin, Congress Here, Axios


'Thank you, Jill': The First Lady is a key voice on Joe Biden's educational reforms

First Lady Jill Biden. Mandel Ngan/Pool via AP Joe Biden credited First Lady Jill Biden for the boost to Pell Grants in his new spending plan. Nearly 60% of Black students rely on Pell Grants to pay for college. Jill Biden continues to teach at a community college and included education reforms in her First Lady agenda. See more stories on Insider's business page. President Joe Biden's first joint address on Wednesday night, during which he officially unveiled his $1.8 trillion Ame...
Tags: White House, Trends, Joe Biden, Biden, Joe, Pell Grants, Jill, Jill Biden, Pell Grant, Alaska Native, Northern Virginia Community College, Universities HBCUs, Ayelet Sheffey, American Families Plan, Jill Biden Mandel Ngan Pool, Jill Read


Strengthening tax enforcement on the wealthy could raise $700 billion in 10 years, Treasury says

IRS chief Charles Rettig. Aaron P. Bernstein/Getty Images Treasury says more funding for IRS enforcement could raise $700 billion over 10 years. The IRS has seen its budget and number of enforcement personnel fall in the last decade. Biden wants to invest about $80 billion over the next decade, and target the wealthiest Americans. See more stories on Insider's business page. Pouring more money into IRS enforcement could bring in an extra $700 billion in tax revenue over the next decade...
Tags: Congress, White House, America, Trends, Joe Biden, Treasury, Biden, Irs, Internal Revenue Service, Rettig, Department of the Treasury, Charles Rettig, Ayelet Sheffey, American Families Plan, Juliana Kaplan Andy Kiersz


What Biden's new plan does for direct payments to Americans via tax credits - and what it doesn't

President Joe Biden. Chip Somodevilla/Getty Images Biden plans to expand the child tax credit for four more years and make the Earned Income Tax Credit permanent. He also wants to permanently lower premiums within the Affordable Care Act. The child tax credit expansion falls short of Democrats' calls to make it permanent. See more stories on Insider's business page. Cornerstones of President Joe Biden's American Families Plan are helping middle-class families and reshaping the ...
Tags: Utah, Republicans, Congress, Washington, White House, Trends, Joe Biden, Democrats, Gop, Missouri, Mitt Romney, Ohio, Biden, Democratic, Brown, CTC


One chart shows how IRS audits have collapsed over the past decade, as wealthy Americans increasingly hide billions from the taxman

Chip Somodevilla /Staff/Getty Images President Joe Biden wants to send billions to the IRS to help the agency crack down on wealthy tax evaders. This comes after years of disinvestment in the IRS that has resulted in a sharp decrease in audits. While Biden aims to collect another $780 billion over a decade, that would still leave hundreds of billions on the table. See more stories on Insider's business page. To help fund his American Families Plan, President Joe Biden has proposed go...
Tags: Congress, Oregon, Senate, White House, Trends, Joe Biden, Biden, Donald Trump, Irs, Trump, Internal Revenue Service, EITC, Sen Ron Wyden, Center on Budget, Chuck Rettig, Ayelet Sheffey


The 4 major takeaways from Biden's $1.8 trillion economic spending package

President Joe Biden. Mandel Ngan/Getty Images Biden unveiled a new spending plan focused on families with new spending on childcare and education. It aims to flood federal money into sectors of the economy and make the lives of families easier. The plan likely won't attract much Republican support - if any. See more stories on Insider's business page. President Joe Biden is aiming to unleash a flood of new federal spending to cut into inequality and realign the role of the federal ...
Tags: Congress, White House, Barack Obama, Trends, Joe Biden, Gop, Biden, Irs, House Ways and Means, House Appropriations Committee, Neal, Child Tax Credit, John Thune, Richard Neal, Jason Furman, Joseph Zeballos Roig


What Biden's new $1.8 trillion plan could mean for your education, from universal pre-K to free community college

A second-grade teacher cleans a desk in her Boston classroom on September 10, 2020. David L. Ryan/The Boston Globe via Getty Images Biden's new American Families Plan plan includes a $318 billion investment in the US education system. The $1.8 trillion plan would offer universal pre-K and two years of free community college. It also includes a $9 billion investment to help prepare teachers to meet community demands. See more stories on Insider's business page. President Joe Biden w...
Tags: White House, Boston, New York City, US, America, Trends, Joe Biden, Bill De Blasio, Biden, Pell Grants, Historically Black College, The Boston Globe, David L Ryan, Ayelet Sheffey, American Families Plan, University HBCU


Biden's boost to IRS funding means the wealthy could soon be hiding only hundreds of billions per year

Chip Somodevilla /Staff/Getty Images Biden wants to boost IRS funding by $80 billion to hold the wealthy accountable, the NYT reports. That would be two-thirds higher than current funding but still leave as much as $900 billion uncollected every year. GOP lawmakers have previously opposed IRS funding boosts, but Democrats argue it's necessary. See more stories on Insider's business page. As part of his plan to hold the wealthy and corporations accountable, President Joe Biden hope...
Tags: Obama, Congress, California, White House, US, Barack Obama, Trends, Bloomberg, Joe Biden, Gop, New York Times, Biden, Times, Irs, Reuters, Internal Revenue Service


Sending 4th and 5th stimulus checks could keep 12 million Americans out of poverty, report finds

Economic stimulus checks are prepared for printing at the Philadelphia Financial Center May 8, 2008 in Philadelphia, Pennsylvania. Jeff Fusco/Stringer The Economic Security Project said 4th and 5th stimulus checks could keep 12 million more Americans out of poverty. The report added that more stimulus checks would help close racial and wealth gaps in the country. 21 Democratic senators already called on Biden to implement recurring stimulus and unemployment aid. See more stories on Insider...
Tags: Congress, Senate, White House, Trends, Joe Biden, Biden, Child Tax Credit and Earned Income Tax Credit, Philadelphia Financial Center, Ayelet Sheffey


Biden calls on all US employers to pay full-time workers for time missed due to vaccines

President Joe Biden. AP Photo/Evan Vucci Joe Biden on Wednesday called on all US employers to give their workers paid time off to get vaccinated. The president also reaffirmed his commitment to a paid-leave tax credit to help small businesses offset the cost of the time off. This comes ahead of Biden's upcoming announcement that the US met his goal of 200 million shots in 100 days. See more stories on Insider's business page. President Joe Biden will announce on Thursday that the U...
Tags: White House, US, America, Trends, Joe Biden, Biden, Ayelet Sheffey, Evan Vucci Joe Biden


36 civil rights organizations urge Biden to cancel $50,000 in student debt per borrower

President Joe Biden. AP Photo/Alex Brandon In a letter, 36 civil rights organizations called on Biden to cancel $50,000 in student debt per person. The letter said the student debt burden falls disproportionately on women and Black and Latino borrowers. They want Biden to extend debt cancelation to all borrowers, including those with private loans. See more stories on Insider's business page. The American student-debt problem encompasses 45 million people with a combined $1.7 trillion ...
Tags: White House, Massachusetts, US, Trends, Joe Biden, Warren, Biden, Black, Sen Elizabeth Warren, American Civil Liberties Union ACLU, Education Department, Alex Brandon, Cardona, Jen Psaki, Federal Family Education Loan FFEL Program, Miguel Cardona


The US national debt isn't actually very high, BofA says

Passengers wearing face masks wait for their bus in front of a national debt display on Pennsylvania Ave. NW in Washington on Monday, May 18, 2020 Bill Clark/CQ-Roll Call, Inc via Getty Images A Bank of America note says US government debt "is not that high" when measured correctly. If you value the US economy like a company, using a discounted cash flow analysis, the debt to GDP ratio is just 0.7%, the lowest since 2004. The bank cited research by former White House officials Larry Summer...
Tags: Washington, White House, US, Barack Obama, Trends, Bloomberg, Harvard, Republican Party, Donald Trump, George W Bush, DCF, Larry Summers, BofA, Council of Economic Advisors, Jerome Powell, National Economic Council


American voters overwhelmingly like the stuff the GOP wants to strip out of Biden's infrastructure plan

President Joe Biden. Mandel Ngan/AFP via Getty Images A CNBC poll found that just 36% of voters support Biden's infrastructure plan as is. But most supported funding for nontraditional infrastructure measures, like caregiving and climate. The GOP argues that anything unrelated to physical infrastructure doesn't belong, but voters seem to disagree. See more stories on Insider's business page. President Joe Biden unveiled his $2.3 trillion infrastructure package two weeks ago, an...
Tags: Senate, White House, US, America, Trends, Joe Biden, Gop, South Dakota, New York Times, Mitch McConnell, Fox News, Republican, Biden, Cnbc, Bloomberg TV, Kristi Noem


22 Democratic lawmakers want Biden to include a pathway to citizenship in his infrastructure plan

Sen. Alex Padilla (D-CA). Justin Sullivan/Getty Images 22 Democratic lawmakers want Biden to include a path to citizenship in his infrastructure plan. They argue that undocumented essential workers are critical to the nation's economic infrastructure. Economists say providing a path to citizenship could boost the economy and improve Americans' wages. See more stories on Insider's business page. With President Joe Biden yet to unveil the details of the second part of his $4 tril...
Tags: California, Senate, White House, Massachusetts, Elizabeth Warren, America, Trends, Joe Biden, House, Mitch McConnell, Biden, Democratic, US Department of Homeland Security, McConnell, Kevin McCarthy, Center for American Progress


Senate Republicans to discuss repealing ban on earmarks, key tactic for passing difficult legislation

Sen. Mitt Romney (R-UT). Caroline Brehman/CQ-Roll Call, Inc via Getty Images The Senate GOP will meet next week to decide on bringing earmarks, funding members can use for their districts, back. This follows House Republicans approving the restoration of earmarks in March. Some GOP Senators opposed bringing earmarks back because of past abuses with the funding measure. See more stories on Insider's business page. Almost a month after House Republicans voted to approve the restoration o...
Tags: Utah, Florida, Congress, California, Montana, Senate, Alabama, West Virginia, Barack Obama, Trends, Bloomberg, Joe Biden, Gop, Alaska, House, Mitt Romney


Biden wants to go after the wealthy on taxes with a $1.2 billion increase in IRS funding

Chip Somodevilla /Staff/Getty Images Biden's recent budget proposal includes a $1.2 billion increase to the IRS budget. This increase is intended to ensure more audits for wealthy people and corporations. The IRS would also get another $417 million in funding for tax enforcement to increase tax compliance. See more stories on Insider's business page. President Joe Biden's $1.5 trillion budget proposal on Friday proposes a ramp-up in spending for education, health, climate init...
Tags: Texas, Congress, White House, US, Trends, Joe Biden, Biden, Irs, Senate Finance Committee, Internal Revenue Service, The IRS, House Ways and Means Committee, Kevin Brady, Office Management and Budget, Charles Rettig, Ayelet Sheffey


Biden could wipe out 84% of the federal student-debt pile by canceling $50,000 per person

recep-bg/Getty Images DOE data shows canceling $50,000 in student debt per person would erase debt for 84% of federal borrowers. It shows that canceling $10,000 per person would erase debt for 35% of them, Yahoo Finance reports. The DOE and DOJ are reviewing Biden's authority to cancel $50,000 in student debt. See more stories on Insider's business page. Democratic lawmakers are continuing to push for President Joe Biden to cancel $50,000 in student debt per person, and new data f...
Tags: Senate, White House, US, Trends, Joe Biden, Warren, Biden, Doj, DOE, Justice Department, Department Of Education, Democratic, Yahoo Finance, Chuck Schumer, Education Department, Jen Psaki


Biden meets with bipartisan group on $2.3 trillion infrastructure plan, saying he's open to negotiate

President Joe Biden. MANDEL NGAN/AFP via Getty Images Biden held his first official meeting with eight bipartisan lawmakers to discuss infrastructure. He told reporters that he is willing to negotiate on both the size and the scope of his plan. Republican lawmakers argue his plan is too focused on things aside from physical infrastructure. See more stories on Insider's business page. For the first time since his $2.3 trillion infrastructure package two weeks ago, President Joe Biden...
Tags: Senate, White House, West Virginia, Trends, Joe Biden, United States, Alaska, New Jersey, Mitch McConnell, Republican, Biden, Abc News, Kamala Harris, Oval Office, Don Young, Sen Joe Manchin


55 progressive groups urge Biden to go big on 'family-friendly care infrastructure'

President Joe Biden unveils part of his infrastructure plan in Pittsburgh on March 31. Jim Watson/AFP/Getty Images 55 progressive groups called for Biden to invest in care infrastructure to support women and people of color. They called for a national paid and medical leave and permanent expansion of the Child Tax Credit. Democratic lawmakers have been advocating for those measures to be included in infrastructure. See more stories on Insider's business page. The first $2.3 trillion pa...
Tags: Congress, Cbs News, Senate, White House, America, Trends, Joe Biden, Mitch McConnell, Biden, Pittsburgh, CTC, Service Employees International Union, EITC, Neal, Child Tax Credit CTC, House Ways and Means Committee


Biden's campaign made 2 promises on canceling student debt. He hasn't done either.

President Joe Biden. Mandel Ngan/AFP via Getty Images Biden made campaign promises to cancel $10,000 in student debt per person and forgive debt for students from HBCUs and public colleges. As president, he has not yet followed through on either promise. The DOE has already canceled debt for defrauded borrowers and borrowers with disabilities. See more stories on Insider's business page. So far, President Joe Biden's Department of Education has acted to address the $1.7 trillion st...
Tags: Education, Washington, Senate, White House, Trends, Joe Biden, Cnn, Warren, Department Of Justice, Biden, DOE, Vermont, Justice Department, Department Of Education, Sanders, Sen Bernie Sanders


'Child care needs to be a guarantee' in the infrastructure bill, top Democrat says

House Ways and Means Committee Chairman Richard Neal (D-MA). Reuters Top Democrat Richard Neal said he will include child care and paid leave in the infrastructure bill. He proposed permanently expanding the Child Tax Credit and Earned Income Tax Credit to cut child poverty. Republican lawmakers have argued that care economy measures don't belong with infrastructure. See more stories on Insider's business page. The second part of the $4 trillion infrastructure plan President Joe Bi...
Tags: Utah, Florida, Congress, Cbs News, Senate, White House, Trends, Joe Biden, South Dakota, Marco Rubio, Mitch McConnell, Republican, Biden, Mike Lee, CTC, EITC


19 states have higher student-loan debt than annual budgets, report finds

ROBYN BECK/Contributor/Getty Images Student Loan Justice found 19 states have more student debt owed than the annual state budget. Georgia, Florida, and Missouri top the list, with debt of at least 140% of the budget in each state. Student Loan Justice Founder Alan Collinge said Biden must use his executive powers to cancel student debt. See more stories on Insider's business page. The student-debt problem numbers are massive: 45 million people owe $1.7 trillion. But another big numbe...
Tags: Congress, Senate, White House, Politico, Trends, Georgia, Joe Biden, Missouri, New Hampshire, Warren, Biden, Justice Department, South Carolina, Department Of Education, Schumer, Chuck Schumer


Biden's economic advisor says America needs an updated definition of infrastructure

Cecilia Rouse. AP Photo/Mel Evans CEA Chair Cecilia Rouse said infrastructure needs an upgraded definition to better fit the times. She told CBS News that jobs will be created from work on roads and bridges, along with research and development. The GOP says Biden's infrastructure plan focuses on too many things besides physical infrastructure. See more stories on Insider's business page. Amidst partisan disagreements on what the word "infrastructure" encompasses, the chair of Presi...
Tags: Cbs News, Senate, White House, China, US, America, Trends, Joe Biden, Gop, South Dakota, House, Mitch McConnell, Republican, Biden, Rouse, Kristi Noem



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