Capitol Hill Update
Early Saturday morning, House lawmakers passed (219-210) the $1.9 trillion “American Rescue Plan,” sending it to the Senate for consideration this week. The current version of the measure will be subject to additional changes in the upper chamber after the Senate Parliamentarian ruled last week that the proposed $15 minimum wage increase would violate budget reconciliation rules. As a result of the ruling, Democrats in the Senate are going back to the drawing board with respect to this provision, exploring possible changes to the tax code to incentivize businesses to pay their workers higher wages. House leadership has targeted the week of March 8 to vote on the package again, given the fact Senators will need to make changes to the underlying bill.
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