Congress’s partisan divide over tax increases is jeopardizing action on a long-term highway bill backed by industry groups, raising the risk that the U.S. will run out of money to pay for projects next year.
Blanche Christerson, an executive in Deutsche Bank AG’s private wealth management division, loves her 85-year-old ailing mother, Hedda Lark, of Manhattan Beach, California, and isn’t ready for her to die. Still, Christerson says, she and her mother are bothered that in discussing Lark’s estate, they wrestle with tax complications that didn’t exist just a year ago.
In other cities, welders pull up to a job in oversize pickup trucks rattling with tools and pressurized tanks of gas. In Portland, Oregon, at least one arrives by bicycle, towing his gear in a two-wheeled trailer.
Democrats say Social Security is off the table. So if Republicans are successful in pushing for changes to entitlement programs in U.S. budget talks, the pressure for cuts will be on Medicare and Medicaid.