Three wealthy tax proposals, even with Democratic control of both chambers, at the stage of referral to the Senate Finance Committee

Three Democratic bills targeting wealthy Americans remain stalled in the Senate Finance Committee despite the party securing both chambers in the November 3 midterm elections, according to AP. The measures would respectively tax fund managers' carried interest, large trust assets, and borrowing by high-net-worth individuals. All three were introduced in the 119th Congress, and committee records show no further review or vote since referral. The logjam matters because the revenue-raising potential of the tax hikes remains contested, a debate that predates the election. What to watch next is whether Senate Finance takes up the bills, which would test Democrats' ability to convert their majorities into legislative action.