House Democrats outlined a bevy of tax hikes on corporations and wealthy people to fund an investment in the social safety net and climate policy that could reach $3.5 trillion. CNBC’s Robert Frank reports on the possible impact for high-earners and considers possible timeline for implementation, and Carlyle Group co-founder David Rubenstein says there is “no doubt we will have a tax increase” by the end of the year. Rubenstein weighs in on China’s regulatory crackdown and global risks to the market. The TSA will double the fine for passengers who refuse to comply with the federal mask mandate for air travel. Sara Nelson, international president for the Association of Flight Attendants, discusses her colleagues’ support for passenger vaccination mandates. A federal judge has ruled Apple can’t force developers to use in-app purchases, the latest development in Apple’s battle with Epic Games. Plus, U.S. Open Champion Daniil Medvedev defeated #1-ranked Novak Djokovic, and vaccines may be on the horizon for kids ages 5-11.

News Stories:
House Democrats propose new tax hikes to pay for their $3.5 trillion bill: Here are the details
TSA to double minimum fines for travelers who refuse to wear masks to $500
Apple can no longer force developers to use in-app purchasing, judge rules in Epic Games case

In this episode:
David Rubenstein, @DM_Rubenstein
Sara Nelson, @FlyingWithSara
Robert Frank, @robtfrank
Becky Quick, @BeckyQuick
Joe Kernen, @JoeSquawk
Andrew Ross Sorkin, @andrewrsorkin