The House is in a committee work week this week during which time House Republicans have their GOP retreat in Orlando, Florida. House Minority Leader Kevin McCarthy (D-California) is hoping to use the Orlando meeting to unify his members around a policy agenda that can pave their road back to the Majority. The retreat will feature seven breakout sessions for members that will be focused on issues such as China, health, Big Tech and the economy. Each session will be led by a different lawmaker with some expertise in that area. The lineup of retreat speakers includes Ronna McDaniel, chair of the Republican National Committee; Sarah Huckabee Sanders, President Trump’s former press secretary and a GOP candidate for governor of Arkansas; and Ari Fleischer, a former press secretary for President George W. Bush.
The Senate will meet at 3 p.m. today. Following Leader remarks, the Senate will proceed to Executive Session and resume consideration of the nomination of Jason Miller to be Deputy Director for Management, Office of Management and Budget.
This week will be a consequential week for President Biden as he unveils his “American Families Plan” featuring the biggest expansion of federal support for lower-income and middle-class Americans in decades, which will be offset by a series of tax increases on the wealthy. The president will unveil his program in a Wednesday night speech to Congress, a move that will trigger intense debate in Congress about whether and how to address income inequality. To pay for a bill that could top $1 trillion, Americans earning over $400,000 will face higher marginal income tax rates. Those taking in $1 million or more will get hit with a levy of up to 43.4% on their capital gains. Republicans are likely to unify in opposition to the tax increases, but the White House is also risking a struggle with Democratic lawmakers. Some of those from New York, New Jersey and other high-tax states in particular were already mobilizing to demand relief for their constituencies even before Biden’s official announcements. More than 20 Democrats have said they won’t vote for Biden’s plan unless the $10,000 cap on state and local tax, or SALT, deductions is addressed. That bipartisan group, which organized into a congressional caucus earlier this month, will have even greater cause given the concentrated effect on wealthy taxpayers in their districts of the tax proposals on capital Biden is set to unveil.
