DEVELOPING: Biden Makes Surprise Admission on Taxes

Via TTN:

In a shocking admission, Biden said he doesn’t think there are enough Democrat votes to raise tax rates in a deal on his economic agenda. However, he thinks he can reach an agreement on the overall legislative package.

MSN reports via Bloomberg:

“I don’t think we’re going to be able to get the vote,” he said in response to a question about individual and corporate rates at a CNN town hall on Thursday in Baltimore. “Look, when you’re in the United States Senate and you’re president of the United States and you have 50 Democrats, everyone is the president.”

A White House official said Biden was referring only to corporate tax rate increases, not other potential provisions to raise federal revenue, including other tax proposals.

Democratic negotiators have been working to address opposition from Senator Kyrsten Sinema, an Arizona moderate, to boosting rates. She has agreed to raise tax revenue from companies and the wealthy, according to a person familiar with the matter. But that’s posed a challenge to craft potential alternatives to rate increases.

Biden also acknowledged that two provisions of the large social-spending bill he calls “Build Back Better” had been curtailed. An initiative to provide paid family leave would be slashed to just four weeks from 12, he said, and a proposal to make community college free would be eliminated.

The admission appears to be another failure of the Biden administration, as admitted by Biden. “There’s a lot that people don’t understand, and by the way, all of it’s paid for,” he claimed of his trillion-dollar legislation.