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 the revenue-related portions of the “reconciliation” bill, reporting them out of committee for House negotiations, a floor vote and further negotiations with the U.S. Senate and White House.
Representative Stephanie Murphy was the lone Democrat to vote against the bill, as did all Republicans on the panel.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.