MSN - AP World http://syn2.thecanadianpress.com:8080/mrss/feed/fcf7391a2f354311807f0501c16bde6a MSN - AP World Copyright © 2010-2018 The Canadian Press. All rights reserved. http://www.rssboard.org/rss-specification Mon, 24 Jan 2022 23:28:02 +0000 Top Senate Dems insist they'll get a budget deal http://syn2.thecanadianpress.com:8080/mrss/feed/fcf7391a2f354311807f0501c16bde6a/5ad5cae100a7473ea2ff844ab6138d82 Democratic leaders are insisting that a deal on President Joe Biden's big agenda is still within reach, although the revenue side of the package deeply in flux. (Oct. 26) 5ad5cae100a7473ea2ff844ab6138d82 Tue, 26 Oct 2021 20:42:26 +0000 SHOTLIST:RESTRICTION SUMMARY:ASSOCIATED PRESSWashington, DC - 26 October 2021++EDIT STARTS ON SOUNDBITE++1. SOUNDBITE: (English) Sen. Chuck Schumer, Majority Leader:"We continue to move forward and continue to have good conversations through the weekend and up to right now. I believe that we will get this done and we will get it done soon." ++WHITE FLASH BETWEEN SOUNDBITES++2. SOUNDBITE: (English) Sen. Chuck Schumer, Majority Leader:"Democrats will keep working until we're able to reach an agreement and pass this transformational legislation." ++WHITE FLASH BETWEEN SOUNDBITES++3. SOUNDBITE: (English) Sen. Chuck Schumer, Majority Leader:" No one ever told us, no one ever said, that passing transformational legislation like this would be easy. But we are on track to get it done because it's so important and it's what the American people need and what they want. ++WHITE FLASH BETWEEN SOUNDBITES++4. SOUNDBITE: (English) Sen. Chuck Schumer, Majority Leader:The programs being discussed will help restore that fundamental promise that if you work hard and you play by the rules, you can have a better life for your family. And we need to strengthen vital services like Medicare relied on by millions for the long term and to make health care more affordable to seniors. I believe strengthening Medicare is very, very important, and we're working to get that done as well."++ENDS ON A SOUNDBITE++ STORYLINE:Democratic leaders are insisting that a deal on President Joe Biden's big agenda is still within reach, although the idea for a new billionaires’ tax  to help pay for the social services and climate change plan has quickly run into criticism as too cumbersome.  With the revenue side of the package deeply in flux, the Democrats continued to press for an agreement to show progress before the president departs later this week to global overseas summits.  However, vast differences among Democrats remain over the basic contours of the sweeping proposal and how to pay for it. It's now estimated to total at least $1.75 trillion over 10 years, and could still be more.   Resolving the revenue side is key as the Democrats scale back what had been a $3.5 trillion plan, insisting all the new spending will be fully paid for and not pile onto the debt. Biden vows any new taxes would hit only the wealthy, those earning more than $400,000 a year, or $450,000 for couples.  The White House had to rethink its tax strategy after one key Democrat, Sen. Kyrsten Sinema, D-Ariz., objected to her party's initial proposal to raise tax rates on wealthy Americans by undoing the Trump-era tax cuts on those earning beyond $400,000.   Instead, to win over Sinema and others, the White House has been floating a new idea of taxing the assets of billionaires and another that would require corporations to pay a 15% minimum tax, regardless of if they show any profits. Those both appear to be gaining traction with another pivotal Democrat, Sen. Joe Manchin, D-W.Va.,  who told reporters he supported new ways to ensure the wealthy to pay their “fair share.”  Overall, the billionaires’ tax rate has not been set, but it is expected to be at least the 20% capital gains rate. Democrats have said it could raise $200 billion in revenue that could help fund Biden's package over 10 years.  Once Democrats agree to the tax proposals, they can assess how much is funding available for Biden's overall package to expand health care, child care and other climate change programs. Among the unresolved provisions: plans to expand Medicare coverage with dental, vision and hearing aid benefits for seniors; child care assistance; free pre-kindergarten; a new program of four-weeks paid family leave; and a more limited plan than envisioned to lower prescription drug costs. ===========================================================Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com(ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. Democratic leaders are insisting that a deal on President Joe Biden's big agenda is still within reach, although the revenue side of the package deeply in flux. (Oct. 26) Top Senate Dems insist they'll get a budget deal