Latest National budgets News

Pelosi upbeat on Biden deal but Manchin pans billionaire tax

Oct. 27, 2021 12:04 PM EDT

WASHINGTON (AP) — House Speaker Nancy Pelosi told colleagues Wednesday that Democrats are in “pretty good shape” on President Joe Biden's sweeping domestic plan and a related $1 trillion infrastructure bill as they race to wrap up talks ahead of his departure for global summits. ...

Mine's a light beer: UK to overhaul alcohol taxes

Oct. 27, 2021 12:55 PM EDT

LONDON (AP) — The taxes on alcoholic drinks in the U.K. are being radically simplified in the biggest overhaul in more than 140 years, Britain's Treasury chief Rishi Sunak said in Wednesday in his annual budget. The changes to the tax regime will now take into account a...

Many progressives grudgingly accepting smaller economic plan

Oct. 27, 2021 10:14 AM EDT

WASHINGTON (AP) — Many progressives have started lining up behind an emerging social and environment bill that's neither as big nor bold as they wanted, constrained by an outnumbered but potent band of party moderates who've commanded disproportionate clout and curbed the measure's...

EXPLAINER: What's a 'wealth tax' and how would it work?

Oct. 27, 2021 09:35 AM EDT

To help pay for his big economic and social agenda, President Joe Biden is looking to go where the big money is: billionaires. Biden never endorsed an outright “wealth tax” when he campaigned for the White House last year. But his more conventional proposed rate...

Half its original size, Biden's big plan in race to finish

Oct. 27, 2021 00:12 AM EDT

WASHINGTON (AP) — Half its original size, President Joe Biden's big domestic policy plan is being pulled apart and reconfigured as Democrats edge closer to satisfying their most reluctant colleagues and finishing what's now about a $1.75 trillion package. How to pay...

White House eyes new climate change strategies in Biden bill

Oct. 26, 2021 14:27 PM EDT

WASHINGTON (AP) — The White House is zeroing in on a package of clean energy strategies for President Joe Biden's big domestic policy bill that officials believe could reach similar greenhouse gas emission reduction goals as an initial proposal that was quashed by opposition from a...

UK budget to mark shift away from pandemic firefighting

Oct. 26, 2021 09:29 AM EDT

LONDON (AP) — Britain has experienced a series of shortages these past few months, from a lack of fuel at gas stations to not enough workers picking the fall harvest, but Treasury chief Rishi Sunak is unlikely to dwell on them when he delivers his annual budget statement on Wednesday. ...

White House eyes new climate change strategies in Biden bill

Oct. 25, 2021 23:27 PM EDT

WASHINGTON (AP) — The White House is zeroing in on a package of clean energy strategies for President Joe Biden's big domestic policy bill that officials believe could reach similar greenhouse gas emission reduction goals as an initial proposal that was quashed by opposition. ...

Billionaire tax hits critics as Biden pushes for budget deal

Oct. 25, 2021 21:56 PM EDT

WASHINGTON (AP) — The Democrats' idea for a new billionaires’ tax to help pay for President Joe Biden's social services and climate change plan quickly ran into criticism as too cumbersome with some lawmakers preferring the original plan of simply raising the top tax rates on...

Biden, Schumer, Manchin huddle, but still no budget deal

Oct. 24, 2021 21:49 PM EDT

WASHINGTON (AP) — Pivotal Democratic Sen. Joe Manchin appears to be on board with White House proposals for new taxes on billionaires and certain corporations to help pay for President Joe Biden’s scaled-back social services and climate change package. Biden huddled...