House Dems are formally backing off repealing the step up in basis for capital gains taxes, per summary of their tax plan this morning.
Big win for the people who claimed repeal would hurt family farmers
Ron Wyden to me on House bill: "It’s important to address the fact that billionaire heirs may never pay tax on billions in stock gains."

would rate statement as eyeball emoji 👀but not quite siren…
That lawmakers see farmers whenever someone mentions "capital gains" is truly a testament to the power of Lobbying

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More from @ArthurDelaneyHP

14 Sep
🚨The poverty rate FELL 2.6 percentage points last year, despite the coronavirus pandemic recession, when factoring stimulus payments.
Stimulus payments: Sometimes a popular policy is also beneficial and good…
Checks lifted 11 million above poverty specifically because there was no income requirement -- exactly the thing Joe Manchin now says he dislikes about the child tax credit.

Children still had higher poverty in 2020 than other age groups.
Read 4 tweets
21 Jul
Will your Jan 6 investigation look at Trump’s role?

Kevin McCarthy: “We will look at anything that caused this place to not be protected.”

McCarthy & co's top question is why was the Capitol so vulnerable. They claim Dems fear this question.

But a bipartisan Senate investigation focused on the security failure. Their report faulted failures of intelligence sharing, police leadership disarray & no riot training
McCarthy keeps repeating this detail from the Senate report about how police riot gear was on a bus that was locked, saying Dems don't want to investigate this.

But that's -- that's FROM the investigation that Amy Klobuchar was running!
Read 6 tweets
20 Jul
Republicans in slight messaging disarray on child tax credit payments as Dems celebrate, @taragolshan and i report…
“I’m gonna surprise you ― I don’t really have an opinion on that right now,” Sen. John Cornyn (R-Texas) said.
Marco Rubio and Republicans helped lay the foundation for the new benefit by doubling the credit in 2017. Rubio dislikes that there’s no longer an income requirement.

“You can call it a tax credit, but that’s not what it is.”
Read 4 tweets
20 Jul
Looks like Democrats are going to try to take credit for the expanded child tax credit Image
“Social Security for our children,” says Nancy Pelosi, anticipating the credit will not ever be allowed to expire Image
Ted Lieu: “Every Democrat voted for this tax credit and every Republican voted no”

Democrats are taking a big victory lap on this now that the IRS has started the first round of payments, which was a questionable proposition pretty recently!
Read 5 tweets
25 Jun
Republicans who negotiated the infra deal are mad Joe Biden insisted the bill go with a reconciliation package.

This insistence originally came from Hill Dems whose votes are needed to pass the infra bill.
I heard "it's one deal," "unbreakable guarantee" and "they have to be connected" from 3 Senate Dems yesterday before Biden endorsed the deal.

Presumably Joe Biden wants the bill to pass!
set aside whether Republicans should have been surprised by what Biden said -- it seems really straightforward that the bill needs all 50 Dem votes so if the liberal ones demand it go with a reconciliation bill, well, they have as much leverage as anyone else
Read 6 tweets
24 Jun
Ed Markey says there’s gotta be an “unbreakable guarantee” that this bipartisan infrastructure deal gets paired with a Dem reconciliation bill filled with progressive priorities
Progressive Dems are describing this bipartisan infrastructure deal as actually just part of a giant package that includes the rest of their agenda.

“It may be multiple votes, but it’s one deal,” Warren told me.…
I have tried asking Senate Republicans if they’ll vote for infrastructure knowing it’s linked to this other bill but the question might be too confusing when you haven’t seen the infra deal in the first place and you’re going up an escalator and getting on an elevator
Read 4 tweets

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