New law will impose an additional 11% in addition to federal tax. It's one of nearly two dozen gun laws signed into law on Tuesday. but Newsom acknowledges some might not survive legal challenges.
Wednesday on Political Rewind: Rep. Marjorie Taylor Greene secured seats on two high-profile House committees. Will she bring her extreme views with her? Gov. Brian Kemp told the World Economic Forum that Georgia will be a pro-business powerhouse. Meanwhile, Republicans in both D.C. and Georgia aim to reshape tax policy.
A person at least six weeks pregnant on or after July 20 through Dec. 31, 2022, can submit the fetus as a dependent on their state tax returns starting next year.
Democrats will try the same budgetary process from four decades ago when first-year President Ronald Reagan used reconciliation to achieve his "revolution" in federal fiscal policy.
The president's budget details his ambitious (and costly) plans to invest in infrastructure and the social safety net — the likes of which the country hasn't seen in decades.
President Biden will ask Congress to increase taxes on capital gains for tax filers who make more than $1 million a year — a move the White House says will affect only about 500,000 households.