Top Democrat Says Biden Inheritance-Tax Plan Short of Votes
- Neal says enough Democrats have raised questions about plan
- Proposal already faced obstacles in $3.5 trillion bill debate
This article is for subscribers only.
The top House Democrat overseeing tax policy said Tuesday that President Joe Biden’s plan to substantially raise taxes on inherited assets lacks sufficient support in the lower chamber, further dimming its chances of inclusion in a $3.5 trillion economic package.
“There were enough that raised questions about it,” House Ways and Means Chairman Richard Neal told reporters following a third day of committee sessions to advance parts of the Democrats’ economic and social-spending proposals. “The issue here is very simple and the arithmetic here is very defiant. And that is getting to 218 votes,” he said, referring to the number amounting to a majority in the House.