Democrats made significant progress last night on the corporate minimum tax, a much-needed agreement on a revenue stream that seems to have netted support from the ever-difficult Sens. Kyrsten Sinema (D-AZ) and Joe Manchin (D-WV). Sen. Angus King (I-ME) said that the tax could garner up to $400 billion in 10 years — a significant chunk, but not enough to pay for the whole thing as moderates demand.
Another option is the billionaires income tax, text of which was released by the Senate Finance Committee this morning. So far though, Democrats are less unified behind this proposal, making its future uncertain.
There are also a host of other proposals — paid leave to Medicare benefits to prescription drug negotiations — currently stuck in limbo. The White House wanted this done, or at least to feel “a sense of momentum” as Sen. Tim Kaine (D-VA) put it to TPM, by the time President Joe Biden leaves for his European trips tomorrow. Right now, that’s looking like a tall order.