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Build Back Better Act
The Build Back Better Act was a bill introduced in the 117th Congress to fulfill aspects of President Joe Biden's Build Back Better Plan. It was spun off from the American Jobs Plan, alongside the Infrastructure Investment and Jobs Act, as a $3.5 trillion Democratic reconciliation package that included provisions related to climate change and social policy. Following negotiations, the price was lowered to approximately $1.7 trillion. The bill was passed 220–213 by the House of Representatives on November 19, 2021. During negotiations, Senator Joe Manchin publicly pulled his support from the bill for not matching his envisioned cost of about $1.75 trillion due to provisions that lasted for less than ten years. After renegotiating the reduction of the Build Back Better Act's size, scope, and cost with Biden and Democratic congressional leaders, Manchin ultimately rejected the bill over the procedural tactics used. Continued negotiations between Manchin and Senate Majority Leade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Yarmuth
John Allan Yarmuth ( ; born November 4, 1947) is an American politician and former newspaper editor serving as the U.S. representative for since 2007. His district encompasses the vast majority of the Louisville, Kentucky, Louisville Metro Area. Since 2013, he has been the only Democratic Party (United States), Democratic member of United States congressional delegations from Kentucky, Kentucky's congressional delegation. Yarmuth chairs the United States House Committee on the Budget, House Budget Committee. On October 12, 2021, he announced that he would not seek reelection in 2022 United States House of Representatives elections in Kentucky#District 3, 2022. Early life and education Yarmuth was born in Louisville, Kentucky, the son of Edna E. (née Klein) and Stanley R. Yarmuth. He is descended from Jewish immigrants from Russia and Austria. He graduated from Atherton High School, Louisville, Atherton High School. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Tax In The United States
Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017. State and local taxes and rules vary by jurisdiction, though many are based on federal concepts and definitions. Taxable income may differ from book income both as to timing of income and tax deductions and as to what is taxable. The corporate Alternative Minimum Tax was also eliminated by the 2017 reform, but some states have alternative taxes. Like individuals, corporations must file tax returns every year. They must make quarterly estimated tax payments. Groups of corporations controlled by the same owners may file a consolidated return. Some corporate transactions are not taxable. These include most formations and some types of mergers, acquisitions, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Senate Budget Committee
The United States Senate Committee on the Budget was established by the Congressional Budget and Impoundment Control Act of 1974. It is responsible for drafting Congress's annual budget plan and monitoring action on the budget for the Federal Government. The committee has jurisdiction over the Congressional Budget Office. The committee briefly operated as a special committee from 1919 to 1920 during the 66th Congress, before being made a standing committee in 1974. The current Chair is Vermont Senator Bernie Sanders, and the Ranking Member is South Carolina Senator Lindsey Graham. Contrasted with other committees The Budget Committee should not be confused with the Finance Committee and the Appropriations Committee, both of which have different jurisdictions: The Finance Committee is analogous to the Ways and Means Committee in the House of Representatives; it has legislative jurisdiction in the areas of taxes, Social Security, Medicare, Medicaid and some other entitlements ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Year
A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elizabeth MacDonough
Elizabeth MacDonough (born February 16, 1966) is an American lawyer and the Parliamentarian of the United States Senate since 2012. She is the first woman to hold the position. Early life and education MacDonough grew up near Washington DC, graduating from Greens Farms Academy in 1984 and earning her bachelor's degree from George Washington University in 1988. MacDonough began her career in 1990 as a legislative reference assistant in the Senate library and later as assistant morning business editor to the ''Congressional Record''. She left in 1995 to attend Vermont Law School, graduating with a JD in 1998. During law school, MacDonough interned with Judge Royce C. Lamberth (United States District Court for the District of Columbia) and the Immigration and Naturalization Service in Burlington, Vermont. Career After graduating, MacDonough worked as a trial attorney for the United States Department of Justice handling immigration cases in New Jersey. MacDonough joined the office ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Senate Parliamentarian
The Parliamentarian of the United States Senate is the official advisor to the United States Senate on the interpretation of Standing Rules of the United States Senate and parliamentary procedure. Incumbent parliamentarian Elizabeth MacDonough has held the office since 2012, appointed by then-Senate Majority Leader Harry Reid. As the Presiding Officer of the Senate may not be, and usually is not, aware of the parliamentary situation currently facing the Senate, a parliamentary staff sits second from the left on the Senate dais to advise the Presiding Officer on how to respond to inquiries and motions from Senators (including "the Sergeant at Arms will restore order in the gallery"). The role of the parliamentary staff is advisory, and the Presiding Officer or Senate may overrule the advice of the parliamentarian. In practice, this is rare; the most recent example of a Vice President (as President of the Senate) overruling the parliamentarian was Nelson Rockefeller in 1975. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty In The United States
In the United States, poverty has both social and political implications. In 2020, there were 37.2 million people in poverty. Some of the many causes include income inequality, inflation, unemployment, debt traps and poor education.Western, B. & Pettit, B., (2010)Incarceration and social inequality.Daedalus, 139(3), 8-19 The vast majority of people living in poverty are less educated and end up in a state of unemployment;Census.gov, (September, 2017) Income and Poverty in the United States: 2016. Retrieved from https://www.census.gov/content/dam/Census/library/publications/2017/demo/P60-259.pdf higher incarceration rates have also been observed. Although the US is a relatively wealthy country by international standards, poverty has consistently been present throughout the United States, along with efforts to alleviate it, from New Deal-era legislation during the Great Depression, to the national war on poverty in the 1960s and poverty alleviation efforts during the 2008 Great R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Security Project
Chris Hughes (born November 26, 1983) is an American entrepreneur and author who co-founded and served as spokesman for the online social directory and networking site Facebook until 2007. He was the publisher and editor-in-chief of ''The New Republic'' from 2012 to 2016. Hughes co-founded the Economic Security Project in 2016. In 2018, he published ''Fair Shot: Rethinking Inequality and How We Earn''. Early life and education Hughes grew up in Hickory, North Carolina, as the only child of Arlen "Ray" Hughes, an industrial paper salesman, and Brenda Hughes, a mathematics teacher. He was raised as an evangelical Lutheran. He graduated from Phillips Academy in Andover, Massachusetts, before earning a Bachelor of Arts in History and English Literature, ''magna cum laude'', from Harvard College. In February 2020, it was reported that Hughes was in the process of earning his Master of Arts in Economics from The New School for Social Research in New York City. Career Facebook Hu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment Insurance
Unemployment benefits, also called unemployment insurance, unemployment payment, unemployment compensation, or simply unemployment, are payments made by authorized bodies to unemployed people. In the United States, benefits are funded by a compulsory governmental insurance system, not taxes on individual citizens. Depending on the jurisdiction and the status of the person, those sums may be small, covering only basic needs, or may compensate the lost time proportionally to the previous earned salary. Unemployment benefits are generally given only to those registering as becoming unemployed through no fault of their own, and often on conditions ensuring that they seek work. In British English unemployment benefits are also colloquially referred to as "the dole"; receiving benefits is informally called "being on the dole". "Dole" here is an archaic expression meaning "one's allotted portion", from the synonymous Old English word ''dāl''. History The first modern unemployment b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Ways And Means Committee
The Committee on Ways and Means is the chief tax-writing committee of the United States House of Representatives. The committee has jurisdiction over all taxation, tariffs, and other revenue-raising measures, as well as a number of other programs including Social Security, unemployment benefits, Medicare, the enforcement of child support laws, Temporary Assistance for Needy Families, foster care, and adoption programs. Members of the Ways and Means Committee are not allowed to serve on any other House Committee unless they are granted a waiver from their party's congressional leadership. It has long been regarded as the most prestigious committee of the House of Representatives. The United States Constitution requires that all bills regarding taxation must originate in the U.S. House of Representatives, and House rules dictate that all bills regarding taxation must pass through Ways and Means. This system imparts upon the committee and its members a significant degree of influe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Group Of Seven
The Group of Seven (G7) is an intergovernmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States; additionally, the European Union (EU) is a "non-enumerated member". It is officially organized around shared values of pluralism and representative government, with members making up world's largest IMF advanced economies and liberal democracies. As of 2020, G7 members account for over half of global net wealth (at over $200 trillion), 32 to 46 percent of global gross domestic product,Depending on whether nominal values or purchasing power parity is used. and 10 percent of the world's population (770 million people). Members are great powers in global affairs and maintain mutually close political, economic, diplomatic, and military relations. Originating from an ''ad hoc'' gathering of finance ministers in 1973, the G7 has since become a formal, high-profile venue for discussing and coordinating solutions to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jen Psaki
Jennifer Rene Psaki (; born c. 1978) is an American television political analyst who currently works for MSNBC. Previously, she was a political advisor who served under both the Obama and Biden administrations. Immediately prior to working for MSNBC, she served the Biden administration as the 34th White House press secretary during 2021 to 2022. A member of the Democratic Party, she previously served in the Obama administration as the White House deputy press secretary (2009); the White House deputy communications director (2009–2011); the spokesperson for the United States Department of State (2013–2015); and the White House communications director (2015–2017). Psaki was a political contributor for CNN from 2017 to 2020. Early life and education Psaki, the eldest of three daughters, was born in Stamford, Connecticut, in 1978 to psychotherapist Eileen (née Dolan) Medvey and Dimitrios "James" R. Psaki, a retired real estate developer whose grandfather had emigrated from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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