1 “Remarks by President Biden Before Meeting With Labor Leaders to Discuss the American Rescue Plan and Infrastructure,” www.whitehouse.gov, 2/17/21
2 “Senate Passes $1.9 Trillion Stimulus Package,” Strategas, March 6, 2021
3 “Infrastructure Options for the Future of Cities,” McKinsey & Company, January 2021
4 Ernie Tedeschi, “Minimum Wage of $15: Unlikely This Year, But Would Get Phased in if Passed,” Evercore ISI, January 26, 2021
5 Andrew Husby and Eliza Winger, “Red States Seeing Red if Minimum Wage Hiked to $15,” Bloomberg Financial News, February 24, 2021
6 ”The Budgetary Effects of the Raise the Wage Act of 2021,” Congressional Budget Office, February 2021
7 “Many Businesses Back Higher Wage,” The Wall Street Journal, March 2, 2021
8 Ernie Tedeschi et al.
9 “The Budget Reconciliation Process: The Senate’s ‘Byrd Rule,’” Congressional Research Service, December 1, 2020
10 The parliamentarian of the Senate is appointed by the Senate majority leader and advises on interpretations of parliamentary procedure and the standing rules of the Senate. The last two parliamentarians have served under both Republican and Democratic Senate rule. “After Nearly 20 Years, Senate Parliamentarian Alana Frumin to Retire,” The Hill, January 31, 2012
11 Patricia J. Beneke, “Budget Reconciliation: Taxes and a Wildlife Refuge on the Chopping Block”, Environmental Law Institute, November 13, 2017
12 For more information on the Biden tax plan and which proposals we think are most likely to gain congressional approval, please see our Politics, Policy & Portfolios report from February titled “A New Administration: First Take on the First 100 Days”
13 Marisa Schultz, “GOP Tries to Strip $175M in Transportation Projects From Democrats’ Coronavirus Bill,” Fox News, March 5, 2021