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Biden Details $1.52 Trillion Spending Proposal to Fund Discretionary Priorities

WASHINGTON — President Biden outlined a vast expansion of federal spending on Friday, calling for a 16 percent increase in domestic programs as he tries to harness the government’s power to reverse what officials called a decade of underinvestment in the nation’s most pressing issues.The proposed $1.52 trillion in spending on discretionary programs would significantly bolster education, health research and fighting climate change. It comes on top of Mr. Biden’s $1.9 trillion stimulus package and a separate plan to spend $2.3 trillion on the nation’s infrastructure.Mr. Biden’s first spending proposal to Congress showcases his belief that expanding, not …

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Job Training That’s Free Until You’re Hired Is a Blueprint for Biden

Bill Barber saw an ad on Facebook last year for American Diesel Training Centers, a school in Ohio that prepares people for careers as diesel mechanics. It came with an unusual pitch: He would pay for the schooling only if it landed him a job, thanks to a nonprofit called Social Finance.After making sure it wasn’t a scam, he signed up. After going through the immersive five-week program, he got a job with starting pay of $39,000 a year — about $10,000 more than he made before as a cable TV installer.“I figured this was my best opportunity to succeed,” …

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Big Companies Like FedEx and Nike Paid No Federal Taxes

Just as the Biden administration is pushing to raise taxes on corporations, a new study finds that at least 55 of America’s largest paid no taxes last year on billions of dollars in profits.The sweeping tax bill passed in 2017 by a Republican Congress and signed into law by President Donald J. Trump reduced the corporate tax rate to 21 percent from 35 percent. But dozens of Fortune 500 companies were able to further shrink their tax bill — sometimes to zero — thanks to a range of legal deductions and exemptions that have become staples of the tax code, according to the analysis.Salesforce, …

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The Biden Boom

Democrats are all agog that Biden was able to pass more stimulus dollars than Barack Obama. What will make a sustainable difference, though, is whether the Biden stimulus doesn’t just rescue the poor but also propels the private sector to start new companies and create more good jobs that improve productivity and sustainably boost living standards, so that we’re not just redividing the pie, but rather growing the pie.

Opinion Debate
What should the Biden administration prioritize?

Nicholas Kristof, Opinion columnist, writes that “Biden’s proposal to establish a national pre-K and child care system would be a …

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That Spotty Wi-Fi? There’s $100 Billion to Fix It.

WASHINGTON — Kimberly Vasquez, a high school senior in Baltimore, faced a tough problem when the pandemic began. She had no fast internet service in her home, but all her classes were online.Marigold Lewi, a sophomore at the same school, was regularly booted off Zoom classes because of her slow home connection.Ms. Lewi spent a lot of time explaining Zoom absences to teachers. Ms. Vasquez sat outside local libraries to use their internet access and at times used her phone. The two of them helped push a successful public campaign for better and free service to low-income families in …

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Biden Tax Plan Charts New Path to Economic Growth

President Biden’s ambitious plan to increase corporate taxes does more than just reverse much of the overhaul pushed through by his predecessor. It also offers a profoundly different vision of how to make the United States more competitive and how to foot the bill.When President Donald J. Trump and a Republican Congress rewrote the tax code in 2017, most of the benefits went to the wealthiest Americans, with lower rates on businesses and on profits from investments. The guiding principle, proponents argued, was that cutting taxes on corporations and investors would encourage businesses to expand, creating more jobs and …

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Fear of Inflation Finds a Foothold in the Bond Market

The so-called bond vigilantes may be back, 30 years after they led a sell-off in Treasury securities over the prospect of higher government spending by a new Democratic administration.The Federal Reserve has downplayed the risk of inflation, and many experts discount the danger of a sustained rise in prices. But there is an intense debate underway on Wall Street about the prospects for higher inflation and rising interest rates.Yields on 10-year Treasury notes have risen sharply in recent weeks, a sign that traders are taking the inflation threat more seriously. If the trend continues, it will put bond investors …

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Amazon Walks a Political Tightrope in Its Union Fight

WASHINGTON — Amazon is aligned with the Biden administration on several fronts.It backs a $15-an-hour federal minimum wage. It has pledged to meet all the goals of the Paris climate agreement on reducing emissions. It has met with the administration to discuss how to help with the distribution of Covid-19 vaccines.But a union drive at one of its warehouses in Alabama has the retailer doing a political balancing act: staying on the good side of Washington’s Democratic leaders while squashing an organizing effort that President Biden has signaled his support for.Amazon workers in Bessemer, Ala., have been …

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How The Death of Taylor Force in Israel Echoes Through the Fight Over Online Speech

WASHINGTON — Stuart Force says he found solace on Facebook after his son was stabbed to death in Israel by a member of the militant group Hamas in 2016. He turned to the site to read hundreds of messages offering condolences on his son’s page.But only a few months later, Mr. Force had decided that Facebook was partly to blame for the death, because the algorithms that power the social network helped spread Hamas’s content. He joined relatives of other terror victims in suing the company, arguing that its algorithms aided the crimes by regularly amplifying posts that encouraged …

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Biden Team Prepares $3 Trillion in New Spending for the Economy

Whether it can muster Republican support will depend in large part on how the bill is paid for.Officials have discussed offsetting some or all of the infrastructure spending by raising taxes on corporations, including increasing the 21 percent corporate income tax rate and a variety of measures to force multinational corporations to pay more tax in the United States on income they earn abroad. That strategy is unlikely to garner Republican votes.“I don’t think there’s going to be any enthusiasm on our side for a tax increase,” Senator Mitch McConnell of Kentucky, the Republican leader, told reporters …

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