 Biden administration officials, including Treasury Secretary Janet Yellen and the director of the National Economic Council, Leo Brainerd, have said Democrats would extend tax breaks for households making less than $400,000 a year and offset the cost with tax increases on the wealthy and corporations. Republicans have long said they would like to extend and make permanent expiring provisions. Addressing the tax cliff is likely to be central to the budget reconciliation plans GOP leaders are pulling together in the event of a Republican sweep in November.