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The policies include tax rebates for parents, free preschool and community college, healthcare and clean energy subsidies as well as paid medical leave, financed by raising corporate taxes on U. The Biden administration's bedrock economic argument is they and wealthy Americans are not paying their "fair share" to support research, education, infrastructure and workers in the world's largest economy. See a graphic of Biden's proposed tax and spending overhaul and U. The International Monetary Fund projects U.

He will note that Illinois has 2, bridges and more than 6, miles of highways in need of repair and that one of every 10 people in the state lacks access to high speed internet. Democrats hope that most of the proposals not in the bipartisan bill will pass under a budget mechanism that would require only a simple majority in the U. Congress, bypassing Republicans, who oppose any new corporate taxes.

Republican Senate leader Mitch McConnell on Tuesday vowed a "hell of a fight for what this country ought to look like in the future" over the tax and spending issue. Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. Nine moderate Democrats in the U. Welcome to the Reuters. Read our Editor's note on how we're helping professionals make smart decisions.

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United States. United States U. United States Ghislaine Maxwell loses bid to dismiss sex trafficking indictment, despite Cosby claim August 13,

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Biden visits Illinois college to push investment as tax battle builds