House Democrats take step back from Biden on tax hikes

House Democrats on Monday released tax-increase legislation that scales back some of President Biden’s key proposals, as they work to craft a massive social spending package that can get the votes to become law.

The bill text released Monday by the House Ways and Means Committee includes a variety of tax increases targeted at wealthy individuals and corporations in an effort to help pay for $3.5 trillion in spending and tax cuts in areas such as child care, climate and health care.

But in many ways it is not as aggressive in raising taxes as Biden has proposed, prompting criticism from progressive groups.