American senators plan to increase tax for firms without $15 minimum pay

American senators plan to increase tax for firms without $15 minimum pay

The Democrats-led senate is mulling increasing tax for wealthy companies who don't pay $15 per hour. The president has said he will continue to talk to them for easy stimulus aid.

Wealthy companies get huge taxes if they don't increase the salary 

More than two senate committee leaders are looking for avenues to increase taxes on firms paying their staff less than $15 per hour. This is a fresh strategy by the Joe Biden-led administration to increase the minimum wage in its coronavirus aid bill.

According to Senate committee budget Bernie Sanders and finance committee chairman Roy Wyden, they are looking for a better plan after plans of increasing the bill in the Biden $1.9 trillion packages failed. On Friday, the senate judged that the democrat's minimum wage offer was against the rules for legislative procedures. 

The house also said that Congress leaders were using the Biden aid bill to smuggle such plans. The law dictates for such a bill to fly, it must consider fiscal capabilities. ' Very soon I and my colleagues will be working on how to remove tax deductions from big wealthy firms who don't pay a minimum salary of $15 per hour. 

More incentives to companies who increase pay 

We will also try to give incentives to companies who want to increase wages- senator sanders stated. The Vermont-based lawmaker said the amendment will be included in the new stimulus package. Senator Wyden who is from Oregon said he is mulling finding huge companies who don't want to pay good wages. 

However, no White House official has made any comment on both ideas. Earlier on, Secretary Jan Psaki said that the president respected the house's decisions and process. She also said President Biden is making efforts to convince the house to have a rethink. White House advisers in economic matters said talks were going on and results will be seen very soon.

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