Biden’s Proposed Corporate Tax Rate Increase Meets Resistance

President Biden has already been lucky with the Senate parliamentarian’s ruling stating that the president’s tax and infrastructure plans can pass the Senate with a simple majority, rather than the 60 usually required to end debate, but he may need more luck to keep his own party united. Sen. Joe Manchin (D-WV) has already signaled his hesitance to increase the corporate tax rate from 21% to 28%, instead favoring an increase to 25%. The high price tag of his plan, currently over $2 trillion, could also dissuade Manchin and fellow moderate Kyrsten Sinema (D-AZ) from backing his plan.

 

Vaccine Rollout Continues as COVID Spread Slows in US

One third of all American adults have now received at least one dose of a coronavirus vaccine, and nearly 20% have already received two doses of the vaccine. and new infections have dropped dramatically from their high in January of this year. The vaccines have proven successful not only in reducing severe infection, but also in reducing transmissions. The success of the vaccines has led to an increased push to reopen more of the economy and remove limitations on gatherings and event attendance.

Others have criticized such reopening efforts, arguing that the success of the vaccination efforts could be undermined by removing restrictions too soon. While cases have dropped drastically from the high case numbers early this year, the number of new cases has plateaued and even increased in certain parts of the country. Michigan is one state that has been hit especially hard, and one of its cities, Jackson, has had a higher raw daily new case number than New York City. For comparison, Jackson has around 33,000 people, while New York has over 8 million people.

 

Prince Philip, Royal Consort to Queen Elizabeth, Dies at 99

Prince Philip, who was married to Queen Elizabeth since 1947 and was royal consort since his wife ascended to the throne in 1952, died Friday morning at the age of 99, two months shy of his 100th birthday. He was the longest-serving royal consort in British history as well as the longest-lived male member of the British royal family. 

Philip was born on June 10, 1921 on the island of Corfu in Greece, and was part of the Greek royal family, itself descended from the Daish, German, and British royal families. His family fled Greece when he was young, and Philip spent his childhood in Germany, France, and Britain. 

In WWII, he joined the British navy and served in the Pacific and Mediterranean. After the war, he was granted permission to marry Elizabeth, the heir apparent to King George VI. After renouncing his foreign noble titles, he married her in 1947 and gained the title Duke of Edinburgh. After Elizabeth ascended to the throne in 1952, Philip become royal consort and gained the title Prince Philip.

Philip was known for his myriad royal engagements, appearing at 22,217 events during his time as royal consort. He also made patronage of sports, particularly carriage driving, a focus of his . He also established The Duke of Edinburgh's Award, which encouraged self-improvement for young people. 

Large Container Ship Ever Given Freed from Suez Canal

The Ever Given, one of the largest ships in the world, was freed Monday after six days stuck in the Suez Canal in Egypt. The Ever Given was on its way to the Netherlands from Malaysia, shipping thousands of tons of goods. A combination of windy conditions and human error are believed to have been the main causes of the ship lodging diagonally across the canal, preventing any ships from using the canal. Without the canal, ships would have to travel around Africa to go from Asia to Europe and vice versa.

Fourteen tug boats were needed to dislodge the ship during high tide.

Some had feared that the blockage could lead to substantial economic disruption, as $9.6 billion worth of trade passing through the canal each day.

 

After Coronavirus Stimulus Bill, Democrats Eye Larger Plans

The American Rescue Plan, President Joe Biden’s $1.9 trillion coronavirus stimulus bill, passed Congress on a party line vote this month, delivering $1,400 checks to most Americans, extending unemployment benefits, and allocating billions for various spending plans. While the plan only passed narrowly, many Democrats in Congress hope their small majorities in Congress will be enough to pass more ambitious plans, including a $3 trillion infrastructure plan, direct tax hikes on upper-income Americans, and gun control bills.

Democrats hope to pay for many of their plans through direct tax increases on those making $400,000 or more per year, as well as through increased enforcement of tax laws though increased audits.

On gun control, a longtime Democratic priority, Sen. Chris Murphy (D-CT) claims that the Senate can pass a bipartisan bill to expand background checks, something echoed by Sen. Pat Toomey (R-PA). However, such a bill may be seen as too weak by more liberal Democrats, and will almost certainly draw strong opposition from most Republicans, casting doubt on Murphy’s and Toomey’s claims.

Some Democrats are calling for the elimination of the filibuster, the parliamentary rule which prohibits the Senate from advancing most legislation without 60 votes. President Biden has not called for the complete elimination of the filibuster, but has signaled openness to “reform,” remaining unclear on what changes to it he would support. Sen. Joe Manchin (D-WV), considered the swing vote in the Senate, has said he would not support elimination the filibuster, but, like Biden, has signaled that he could be open to certain changes that would allow legislation to pass more easily.