{"id":10288,"date":"2024-05-01T13:00:25","date_gmt":"2024-05-01T10:00:25","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=10288"},"modified":"2024-05-01T13:00:25","modified_gmt":"2024-05-01T10:00:25","slug":"biden-tax-increases-wont-hit-middle-class-yellen-says","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=10288","title":{"rendered":"Biden Tax Increases Won\u2019t Hit Middle Class, Yellen Says"},"content":{"rendered":"

Republicans pressed the Treasury secretary on President Biden\u2019s tax proposals and the fate of the Trump tax cuts that will expire in 2025.<\/p>\n

The battle lines of the next big tax fight were laid out on Tuesday as Treasury Secretary Janet L. Yellen sparred with Republicans over the Biden administration\u2019s plans to raise taxes on businesses and wealthy Americans.In recent weeks, Republicans have been amplifying their attacks on President Biden\u2019s tax proposals, which have become central to the president\u2019s re-election message. Many provisions in the $1.7 trillion tax cut that Republican lawmakers and former President Donald J. Trump enacted in 2017 are set to expire in 2025, including lower tax rates for individuals as well as many tax breaks for corporations.Lawmakers are girding for a legislative battle over which ones \u2014 if any \u2014 will be extended next year. Renewing all of the tax measures for another decade would cost about $3 trillion, according to the Joint Committee on Taxation.Republicans have begun warning that Mr. Biden plans to allow all of the tax cuts to expire, effectively raising taxes on businesses and families at a moment when inflation is pinching consumers.\u201cInstead of allowing families hit by these high prices to keep more of their hard-earned money, President Biden wants the highest tax increase on families and small businesses in American history,\u201d Representative Jason Smith, Republican of Missouri and the chairman of the House Ways and Means Committee, told Ms. Yellen during a hearing on Tuesday.The president fueled such criticism last week when he assailed the Trump tax cuts for benefiting the rich and increasing the federal debt and promising: \u201cThe tax cut is going to expire. If I\u2019m re-elected, it\u2019s going to stay expired.\u201dWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.<\/p>\n
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Republicans pressed Treasury Secretary Janet Yellen on President Biden’s tax proposals and the fate of the Trump tax cuts that will expire in 2025.<\/p>\n","protected":false},"author":6,"featured_media":10289,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[6552,5800,1234,492,3397,5663,5702,2021,5099,4758,898,1600,5596,988,3895,658,1823,67,8515,4442,4179,4621,2628,1500,4843,3360,1033,5051,2342,1022,1005,3603,1065,4505,3358,4343,3359,3488,5680,4738,1183,973,841,8514,5129,4928,2442],"class_list":["post-10288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-access","tag-americans","tag-attacks","tag-biden","tag-biden-administration","tag-chairman","tag-committee","tag-consumers","tag-corporations","tag-criticism","tag-debt","tag-election","tag-families","tag-fight","tag-hearing","tag-history","tag-increase","tag-inflation","tag-legislative-battle","tag-message","tag-middle-class","tag-missouri","tag-money","tag-patience","tag-president","tag-president-biden","tag-prices","tag-raising-taxes","tag-re-election","tag-republican","tag-republicans","tag-small-businesses","tag-tax","tag-tax-breaks","tag-tax-cuts","tag-tax-increase","tag-tax-increases","tag-tax-proposals","tag-tax-rates","tag-taxation","tag-taxes","tag-treasury","tag-trump","tag-trump-tax-cuts","tag-warning","tag-wealthy","tag-wealthy-americans"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\nBiden 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