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U.S. House panel advances Democrats’ plan to raise taxes on the wealthy, corporations By Reuters


© Reuters. FILEPHOTO: This is the U.S. Capitol Building, Washington, U.S.A. on August 20, 2021. REUTERS/Elizabeth Frantz

WASHINGTON (Reuters) – The U.S. House Ways and Means Committee voted on Wednesday to advance legislation to raise taxes on wealthy Americans and corporations to help fund President Joe Biden’s $3.5 trillion in spending on childcare, education, housing and green energy.

The Democratic-dominated panel voted 24-19 to approve revenue-related sections of the “reconciliation” bill. They reported the bills out of committee for House negotiation, and then a floor vote.

As did all Republicans, Representative Stephanie Murphy was also a lone Democrat who voted against the bill.

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