Sales tax holidays have enjoyed political success, but rather than providing a valuable tax cut or a boost to the economy, they impose serious costs on consumers and businesses without providing offsetting benefits.
We begin today’s roundup with Margaret Hartmann’s analysis at New York Magazine on today’s vote on the GOP’s tax cuts for the wealthy/health insurance plan, and specifically, the return of Senator John McCain to the floor for the crucial...Show More Summary
I’m sure you’ll be surprised by how the story turns out! Sen. John McCain, recently diagnosed with an aggressive form of brain cancer, will make a dramatic return to the Senate Tuesday to cast a critical vote on health care legislation. McCain’s office announced Monday night he will return Tuesday. His return will amount to […]
Newt Gingrich has written a white (yeah) paper for the Republican Party. It's all about "course correction" and a "mid-term reassessment." Mid-term, even for House members, isn't until January, but who cares when we're in this much of...Show More Summary
I have a piece for The Week about what Congress will do if Trump fires Robert Mueller. (SPOILER: nothing, because tax cuts and neoconfederate judges): And despite the (not actually true) cliché that “it’s the coverup, not the crime,” it’s nearly certain that Trump is engaging in a coverup because he’s guilty of serious wrongdoing. […]
I am turning bearish on U.S. large bank stocks as bank lending growth continues to slow down while the prospect of tax cuts and financial reform has dimmed. At the same time, U.S. leading indicators suggest a slowdown in the second half of 2017, which will limit the upside of U.S. bank stocks.
The French president has boosted his profile on the world stage, but at home he faces discontent on several fronts When the French president Emmanuel Macron donned an air force uniform and boarded a military jet on Thursday, stressing...Show More Summary
“With President Trump’s promise to repeal and replace the Affordable Care Act nearly dead, administration officials are scaling back their ambitions to cut the corporate tax rate sharply, apparently taking a more pragmatic approach as they scramble to secure a [...]
The proposed tax rate for businesses is now said to be around 20 percent, rather than the 15 percent rate the administration said it wanted.
Budgets for the House and Senate became a victim in a fight between the Democratic governor and Republican-controlled Legislature over the scope of tax cuts. Dayton used a line-item veto to remove its $130 million budget in May, trying to call lawmakers back to St. Show More Summary
The tough talk echoes the sentiments of known Drudge confidant Ann Coulter who has also grown very publicly restive about the current state of the administration.
Washington politics often revolves around numbers. And no number is more important that the “baseline.” When politicians talk about “spending cuts” or “tax cuts,” they are measuring against a baseline. But it’s a process open to manipulation and hypocrisy, so here’s an explanation. The Facts A “current services’ baseline is designed to measure the impact […]
Good morning. Here’s the latest news on the GOP’s efforts to replace Obamacare and more top stories from Washington. Click here to get the Capital Journal Daybreak newsletter delivered to your inbox. GOP Abandons Senate Health Bill, Plans Repeal Vote: GOP leaders gave up their effort to dismantle and simultaneously replace much of the Affordable Care Act […]
The House GOP wants the president to break his promise not to cut Medicare, for the sake of funding regressive tax cuts.
R. Kelly's lawyer responds to allegations that a bunch of women are trapped in the proverbial closet. [Entertainment Tonight] The big news of the night was the slow, painful, uncovered death of the GOP tax cut. McConnell now says he'll...Show More Summary
The Trump Administration reportedly has “its act together on tax reform.” Also, its only idea for how to finance tax cuts is “blow out the deficit.”
The sheer magnitude of irresponsibility is breathtaking: 528 million—amount in dollars of the cost of the tax cuts enacted in the two-year budget passed by the General Assembly this year (Ibid) 900 million—amount in dollars of the full...Show More Summary
Mitch McConnell won’t be able to hold a vote on his bill to take health insurance away from tens of millions of people to pay for present and future tax cuts next week because John McCain is a principled maverick sick. The 35% cut to Medicaid is, of course, in itself sufficient to make the […]
"Trump's policies will lead to larger deficits, fewer people with health care, more dangerous workplaces, and a dirtier environment." Office of Management and Budget Director Mick Mulvaney had a Wall Street Journal column highlighting the benefits of "MAGAnomics." The piece can best be described as a combination of Groundhog Day and outright lies. Show More Summary
New York Times economics reporter Alan Rappeport furthered the myth that Trump’s health bill would be “cutting deeply into Medicaid” spending in Thursday’s Times, “Risky Mix: Cutting Taxes For Rich and Aid for Poor.” He was harsher on...Show More Summary