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Keyword: congress

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  • Trump Says ‘No Change’ to 401(k) Plans Under Forthcoming Tax Proposal

    10/23/2017 9:41:03 AM PDT · by abb · 38 replies
    The Wall Street Journal. ^ | October 23, 2017 | Richard Rubin and Peter Nicholas
    WASHINGTON—President Donald Trump vowed on Monday to protect a popular retirement savings program, pledging to leave it untouched in the forthcoming Republican tax overhaul plan. Mr. Trump, in a tweet, shot down an idea that had been circulating in Washington policy circles and worrying the retirement-savings industry: limiting pretax contributions to retirement accounts. “There will be NO change to your 401(k),” the president wrote on Twitter. “This has always been a great and popular middle class tax break that works, and it stays!” But even a few days of chatter showed the concept’s unpopularity, especially at the $2,400 level. By...
  • Million dollar bracket in the works for GOP tax plan

    10/23/2017 6:45:46 AM PDT · by SkyPilot · 98 replies
    Axios ^ | 23 Oct 17 | Jonathan Swan
    The Republicans on the House Ways and Means Committee — engaged in a high-pressure, high-stakes tax policy rewrite — are currently exploring not cutting the income tax rate for people who earn $1 million or more per year. Right now, the marginal tax rate for anyone who makes $418,000 or more per year is 39.6 percent. The Republicans' opening gambit — secretly negotiated for months, and endorsed by Trump — would have cut the highest tax rate to 35 percent. But now, House Republicans' thinking has changed. Under their current thinking, people who earn between $418,000 and $999,999 will be...
  • Trump’s tax proposal won’t actually help the middle class.

    10/21/2017 1:59:09 PM PDT · by SkyPilot · 271 replies
    Washington Post ^ | 19 Oct 17 | By Catherine Rampell
    President Trump campaigned on helping the little guy. His latest tax proposal, he says, is about helping the middle guy. “It’s a middle-class bill,” Trump promised an audience of truckers last week. Other administration officials and House Speaker Paul D. Ryan (R-Wis.) have also claimed that their primary objective in reconfiguring the tax code is to help the middle class, not the wealthy.
  • Senate passes a budget, moving the GOP closer to tax reform (a $4 Trillion Budget Measure)

    10/20/2017 9:00:15 AM PDT · by SeekAndFind · 24 replies
    CNBC ^ | 10/20/2017 | Jacob Pramuk
    Senate Republicans approved a $4 trillion budget measure Thursday, taking a crucial step toward their goal of passing a tax plan this year. The chamber approved the budget resolution by a 51-49 vote. Sen. Rand Paul, R-Ky., was the only GOP senator to vote against it. Senators will now have to reconcile their budget resolution with a separate one passed by the House. The other chamber could simply choose to pass the Senate budget blueprint. Passing a budget unlocks reconciliation, which enables the GOP to pass a tax bill with a simple 51-vote majority in the Senate. Using the tool...
  • Louie Gohmert in Dallas TX with Jason Goodman

    10/19/2017 4:48:48 PM PDT · by smileyface · 14 replies
    Crowdsource the Truth ^ | Oct 16, 2017 | Jason Goodman
    Jason Goodman gets the ear of Louis Gohmert.
  • Stephanie Miner will not run for Congress in 2018 (Syracuse Mayor, NY24)

    10/19/2017 9:50:43 AM PDT · by jalisco555 · 7 replies
    Syracuse.com ^ | 10/19/17 | Chris Baker
    SYRACUSE, N.Y. -- Syracuse Mayor Stephanie Miner will not run for Congress in 2018. Miner has long been mentioned as a potential challenger to U.S. Rep. John Katko for Central New York's 24th Congressional District. Thursday morning, she ruled out a run. "After much thoughtful consideration and conversations with my family, I have decided I will not be a candidate for Congress in 2018," Miner said in a statement Thursday. "This was not an easy decision given magnitude of issues faced by our community, but I believe we are best served supporting other progressive leaders in this election both at...
  • Republicans Are Blowing It

    10/19/2017 5:24:55 AM PDT · by Kaslin · 49 replies
    Townhall.com ^ | October 19, 2017 | Derek Hunter
    After eight years in the wilderness, Republicans have a president who will sign nearly anything they put in front of him. You’d think they’d revel in the opportunity to pass legislation they’d been dreaming of codifying in law, but you’d be wrong. Rather than attempt to implement the ideas on which they’d campaigned and won on, they’re staring blankly like a poker player who over-bet with a pair of twos and had his bluff called. But it’s not just elected Republicans; it’s the entire conservative movement that's dropped the ball. After eight years in exile, where are the innovations,...
  • Frederica Wilson fires back at Trump: 'I have proof too. This man is a sick man'

    10/18/2017 10:53:51 AM PDT · by kevcol · 110 replies
    The Washington Examiner ^ | October 18, 2017 | Caitlin Yilek
    Democratic Rep. Frederica Wilson shot back at President Trump moments after he claimed he has proof that she "totally fabricated" what he told the widow of a U.S. soldier who died in Niger. "I don't know what kind of proof he could be talking about," Wilson said Wednesday on CNN. "I'm not the only person that was in the car. And I have proof too. This man is a sick man. He's cold-hearted and he feels no pity or sympathy for anyone."
  • COMITY IS KILLING THE REPUBLIC!

    10/18/2017 10:45:31 AM PDT · by Dick Bachert · 28 replies
    Self ^ | 10/18/2017 | Dick Bachert
    Merriam-Webster defines “Comity” as a friendly social atmosphere : social harmony; a loose widespread community based on common social institutions. Sounds benign, doesn't it? Based on recent events in Washington, DC., IT IS ANYTHING BUT BENIGN! IT SIGNALS THE END OF AMERICA. Let me explain. With some, mainly partisan, exceptions, comity describes the pleasant, non-confrontational & collegial relationships between 100 senators and 435 representatives as they conduct OUR business. I guess we should be pleased that we no longer have those folks dueling over their disagreements. One such cost Alexander Hamilton his life at the hands of Aaron Burr in...
  • Exile Guo Wengui casts shadow over China’s party congress

    10/18/2017 8:08:25 AM PDT · by RohanKapoor · 1 replies
    Financial Times ^ | October 17, 2017 | Lucy Hornby
    Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/dbf66aaa-b236-11e7-a398-73d59db9e399?segmentid=acee4131-99c2-09d3-a635-873e61754ec6 If anyone thought that what happens in the Chinese Communist party stays in the Chinese Communist party, a determined gadfly ensconced in New York has proven them wrong. This week’s five-yearly party congress will reveal which top officials will serve...
  • Who Pays What in Taxes?

    10/18/2017 7:10:45 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | October 18, 2017 | Walter E. Williams
    Politicians exploit public ignorance. Few areas of public ignorance provide as many opportunities for political demagoguery as taxation. Today some politicians argue that the rich must pay their fair share and label the proposed changes in tax law as tax cuts for the rich. Let's look at who pays what, with an eye toward attempting to answer this question: Are the rich paying their fair share?According to the latest IRS data, the payment of income taxes is as follows. The top 1 percent of income earners, those having an adjusted annual gross income of $480,930 or higher, pay about...
  • Fusion GPS to House: We'll take Fifth rather than testify on Trump dossier

    10/17/2017 2:44:02 PM PDT · by TBP · 54 replies
    Washington Examiner ^ | October 17, 2017 | Byron York
    On Oct. 4, the House Intelligence Committee subpoenaed Fusion GPS, the opposition research firm at the center of the Trump dossier affair. On Monday, the company told the House what it can do with its subpoena. Fusion GPS chief Glenn Simpson and two others will "invoke their constitutional privileges not to testify," Simpson's lawyers told the committee in a letter. The panel shouldn't even bother to call Simpson to the hearing room, the lawyers said, because he won't answer their questions under any circumstances. It seems unlikely the House will grant that request. If Simpson and two other GPS officials...
  • Pharmacist hints some Congress members have Alzheimer’s

    10/11/2017 2:22:24 PM PDT · by COUNTrecount · 82 replies
    NY Post ^ | October 11, 2017 | Ruth Brown
    A pharmacist who fills all the scripts for Congress members says he’s given Alzheimer’s drugs to lawmakers — who may be running the country minus their marbles. “At first it’s cool, and then you realize, I’m filling some drugs that are for some pretty serious health problems as well. And these are the people that are running the country,” Mike Kim told STAT News, reportedly citing diabetes and Alzheimer’s treatments. “It makes you kind of sit back and say, ‘Wow, they’re making the highest laws of the land and they might not even remember what happened yesterday.’” Kim owns Grubb’s...
  • Trump, McConnell say they want tax bill passed this year and quash talk of a rocky relationship

    10/16/2017 12:26:21 PM PDT · by Innovative · 63 replies
    CNBC ^ | Oct. 16, 2017 | Jacob Pramuk
    President Donald Trump and Senate Majority Leader Mitch McConnell reiterated Monday that they want to see a tax bill passed by the end of the year. "I really believe that we have a very good chance of getting the taxes done ... hopefully fairly long before the end of the year," the president said in a hastily scheduled, roughly 40-minute news conference following a lunch with the Kentucky Republican. McConnell added: "The goal is to get it done by the end of the year."
  • Obamacare Tax to Raise Premiums in 2018, Cost $270 Billion Over Next Decade

    10/15/2017 10:55:24 AM PDT · by Kaslin · 15 replies
    The Washington Free Beacon ^ | October 15, 2017 | Ali Meyer
    Tax could potentially affect 156,000 Americans who could see premiums rise even furtherAn Obamacare tax that will be imposed in 2018 will raise premiums even further and is estimated to cost $270 billion over the next decade, according to a report commissioned by UnitedHealth Group. The report was commissioned to examine how a tax imposed by Obamacare would impact premiums. Under Obamacare, health insurers that offer coverage are required to pay a fee on health insurance premiums they earn, which is also considered a tax by the IRS. Congress imposed a moratorium on collecting these taxes in 2017, but that...
  • Tolls would be required for Larson’s ‘big dig’

    10/16/2017 12:11:34 AM PDT · by Tolerance Sucks Rocks · 8 replies
    The Manchester Journal Inquirer ^ | September 21, 2017 | Kym Soper
    Connecticut abolished tollbooths more than 30 years ago, and every attempt to reinstate them since has been blown out of the water. But that would have to change, says U.S. Rep. John B. Larson, D-1st District, should his proposed underground highway system in Hartford become reality. For the last eight months Larson has talked to nearly every civic group, news editorial board, local business, municipal government, state agency, and federal office, trying to drum up support for his proposed $10 billion “big dig” project. So far, support has been hit or miss for the plan that would sink interstates 84...
  • How to Make Private Investment in Infrastructure Really Work

    10/15/2017 10:58:14 PM PDT · by Tolerance Sucks Rocks · 2 replies
    Citylab ^ | October 9, 2017 | William Murray
    During the 2016 presidential campaign, Donald Trump—like his opponent Hillary Clinton—spoke glowingly about infrastructure spending, alluding to Franklin Roosevelt’s Works Progress Administration and Dwight Eisenhower’s Interstate Highway System as examples of how spending on roads, bridges and airports helped unite the country. For 2017, the American Society of Civil Engineers has given America’s infrastructure an overall grade of D+, estimating it would cost more than $4 trillion to upgrade properly. But President Trump’s $1 trillion dollar, 10-year infrastructure plan has so far moved along at a halting pace. This tortoise-like process may offer an opportunity to think more strategically about...
  • Will new bipartisan House bill to ban bump stock guns actually ban all semi-auto guns?

    10/15/2017 2:27:00 PM PDT · by rogerantone1 · 28 replies
    Sometimes in the rush “to do something” after a tragedy, politicians put forward bills that could easily cause more harm than good. The legislation being put forward to ban “bump stocks,” a firearm accessory that uses the recoil of the semi-automatic gun to fire more rapidly, might end up banning all semi-automatic guns.
  • Turley: Obama's Original Obamacare Order Was Unconstitutional, Also Violated Law Itself

    10/15/2017 7:03:30 AM PDT · by entropy12 · 33 replies
    Real Clear Politics ^ | 10/14/17 | Ian Schwartz
    Legal eagle Jonathan Turley responds to Democrats that say President Trump's decision to reverse former President's order on Obamacare subsidies was unconstitutional. Turley said Obama's decision to order billions to fund subsidies would be analogous to Trump ordering money to build The Wall.
  • Gohmert on Awan IT Scandal: “Hundreds of Potential Federal Charges Here”

    10/15/2017 5:42:11 AM PDT · by smileyface · 68 replies
    Fox News ^ | Oct 12, 2017 | GohmertTX01
    Congressman Louie Gohmert (TX-01) talked to Brian Kilmeade on Fox & Friends regarding the ongoing investigation around Imran Awan, the indicted former IT aide for Rep. Debbie Wasserman Schultz. He commented on the informal hearing he and several other Members of Congress attended this week and noted that they were “wanting to gather information and hopefully our leadership would become more interested because this is serious stuff.” He also added, “I was shocked to find out this week, when we were hearing people talk that did the investigating, that a lot of years he [Imran Awan] would spend three months...