Reuters US Domestic News Summary
It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million. Republicans unveil $568 billion infrastructure package to counter Biden U.S. Senate Republicans on Thursday proposed a $568 billion, five-year infrastructure package as a counteroffer to President Joe Biden's sweeping $2.3 trillion plan, calling their measure a good-faith effort toward bipartisan negotiations.Reuters | Updated: 23-04-2021 05:25 IST | Created: 23-04-2021 05:25 IST
Following is a summary of current US domestic news briefs.
Citi to pay NY mayor candidate and former executive McGuire over $5.7 million
Former Wall Street executive and Democratic candidate for mayor of New York Ray McGuire will receive more than $5.7 million from Citigroup Inc as part of a bonus program, according to his annual financial disclosure report. McGuire was one of the senior-most Black executives on Wall Street till he left Citi last year after 15 years in various roles to join the mayor's race.
U.S., other countries deepen climate goals at Earth Day summit
The United States and other countries hiked their targets for slashing greenhouse gas emissions at a global climate summit hosted by President Joe Biden, an event meant to resurrect U.S. leadership in the fight against global warming. Biden unveiled the goal to cut emissions by 50%-52% from 2005 levels at the start of a two-day climate summit kicked off on Earth Day and attended virtually by leaders of 40 countries including big emitters China, India and Russia.
Kansas, North Dakota governors veto bills banning trans girls from sports
Democratic Kansas Governor Laura Kelly on Thursday vetoed a Republican bill banning transgender girls from participating in school sports, in a setback for a broad campaign in statehouses across the country this year to restrict transgender rights. Similar sports bans have been passed in Arkansas and Mississippi, and South Dakota's governor had signed an executive order supporting the ban.
Hundreds of mourners, wearing face masks and weeping, filled a Minneapolis church on Thursday for the funeral of Daunte Wright, a Black man whose shooting by police after a traffic stop has sparked fresh concerns over the way cops treat people of color. Wright, 20, who was shot by a white police officer in a Minneapolis suburb on April 11, was laid to rest two days after a Minneapolis jury found a white police officer guilty of murdering George Floyd last May, a killing that triggered worldwide protests for racial justice.
A hate crimes bill to combat violence against Asian Americans in the wake of the COVID-19 pandemic passed the U.S. Senate overwhelmingly on Thursday, a rare bipartisan vote in the evenly divided chamber. The bill passed 94-1, with Missouri Senator Josh Hawley the only no vote. It must pass the House of Representatives, where Democrats hold a clear majority. President Joe Biden has called for passage.
The U.S. Justice Department expects to charge at least 100 more people for taking part in the deadly attack on the U.S. Capitol, signaling prosecutors are far from finished investigating an attack that a judge on Thursday called an act of terrorism. "Over 400 individuals have been charged in connection with the Capitol attack," federal prosecutors said in a court filing on Thursday. "The investigation continues and the government expects that at least one hundred additional individuals will be charged."
Biden set to nominate Homendy to head U.S. NTSB
U.S. President Joe Biden is expected to nominate Jennifer Homendy to chair the U.S. National Transportation Safety Board (NTSB), sources briefed on the matter told Reuters on Thursday. Homendy has served on the board since 2018 and previously was a senior House Democratic staffer working on transportation issues.
Biden to float historic tax increase on investment gains for the rich
President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said. The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.
Republicans unveil $568 billion infrastructure package to counter Biden
U.S. Senate Republicans on Thursday proposed a $568 billion, five-year infrastructure package as a counteroffer to President Joe Biden's sweeping $2.3 trillion plan, calling their measure a good-faith effort toward bipartisan negotiations. The proposal, which falls below even the range of $600 billion to $800 billion that Republicans floated earlier in the week, focuses narrowly on traditional infrastructure projects and broadband access.
U.S. Senator Tim Scott, the only Black Republican in the chamber and a leading voice on police reform, will deliver his party's response to President Joe Biden's address to Congress next week, when Biden is expected to urge action on the issue. Scott, a rising star within his party, will give his response on Wednesday after Biden makes his first speech to Congress since becoming president on Jan. 20.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)