The Federal Reserve warns of market risk in its response to a lawsuit by consumer borrowers and credit card users who are seeking an injunction to end LIBOR.

Middle-class tax cuts and increased social spending would be made possible by rolling back the Trump-era tax cuts for corporations and wealthy households.

The move is necessary to avoid default on debt payments, but some politicians see supporting a debt-limit increase as equivalent to approving Biden's proposed federal budget.

New book tax would ensure companies with $2 billion or more in profits pay at least 15%.