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Biden will seek an increase in the tax on capital gains to 39.6% for those Americans earning more than $1 million, according to reports.
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President attempts to persuade more countries including China to follow suit
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The opposing speech will give the Senate's lone Black Republican an opportunity to pitch himself to the American public, but the spotlight often comes with harsher scrutiny.
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Under a proposal to raise federal rates reportedly being considered by President Joe Biden, the wealthiest residents of California would pay a combined top capital gains tax rate of 56.7, while the richest New Yorkers would pay 52.22 percent.
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Working to avoid being cut out of the process, they presented a $568 billion blueprint that is a fraction of the size of President Biden's proposal.
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President Biden is expected to recognize the World War I-era mass killings as a "genocide" in an annual Remembrance Day declaration Saturday.
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The five-year spending outline is much more narrowly focused on traditional infrastructure than the president's sweeping proposal.
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There is only one way for the Biden administration to make good on its emissions commitments.
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Today is Earth Day, and 40 world leaders are participating in a virtual climate summit. President Joe Biden opened the event by pledging to cut fossil fuel emissions by more than half by 2030 - the most ambitious U.S. climate effort yet.
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