Posts Tagged ‘National taxes’

House GOP health bill facing fresh House committee test

Thursday, March 16th, 2017

The White House and Republican leaders are talking to rank-and-file lawmakers about revising the GOP health care overhaul, hoping to keep a rebellion by conservatives and moderates from snowballing and imperiling the party’s showpiece legislation.
Four days after a congressional report projected the bill would pry coverage from millions of voters, signs of fraying GOP support for the legislation were showing. The measure would strike down much of former President Barack Obama‘s 2010 overhaul and reduce the federal role, including financing, for health care consumers and is opposed uniformly by Democrats.
In a fresh test of Republicans’ willingness to embrace the legislation, the House Budget Committee was considering the measure Thursday. Republicans expressed confidence the bill would be approved, but the vote could be tight. The panel can’t make significant changes but was expected to endorse non-binding, suggested changes to nail down votes.
The bill would eliminate the tax penalty that pressures people to buy coverage and the federal subsidies that let millions afford it, replacing them with tax credits that are bigger for older people. It would cut Medicaid, repeal the law’s tax increases on higher earning Americans and require 30 percent higher premiums for consumers who let coverage lapse.
Overt GOP opposition grew after the nonpartisan Congressional Budget Office projected Monday that the legislation would push 24 million Americans off coverage in a decade and shift out-of-pocket costs toward lower income, older people. Obama’s law has provided coverage to around 20 million additional people
House Speaker Paul Ryan, R-Wis., told reporters Wednesday that leaders could now make “some necessary improvements and refinements” to the legislation. But he declined to commit to bringing the measure to the House floor next week, a schedule Republican leaders have repeatedly said they intended to keep.
At a late rally in Nashville Wednesday, President Donald Trump said: “We’re going

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GOP: Cut taxes, change brackets; but what about deficits

Monday, December 26th, 2016

Congressional Republicans are planning a massive overhaul of the nation’s tax system, a heavy political lift that could ultimately affect families at every income level and businesses of every size.
Their goal is to simplify a complicated tax code that rewards wealthy people with smart accountants, and corporations that can easily shift profits — and jobs — overseas. It won’t be easy. The last time it was done was 30 years ago.
Senate Majority Leader Mitch McConnell, R-Ky., and Speaker Paul Ryan, R-Wis., have vowed to pass a tax package in 2017 that would not add to the budget deficit. The Washington term is “revenue neutral.”
It means that for every tax cut there has to be a tax increase, creating winners and losers. Lawmakers would get some leeway if non-partisan congressional analysts project that a tax cut would increase economic growth, raising revenue without increasing taxes.
Nevertheless, passing a massive tax package will require some tough votes, politically.
Some key Republican senators want to share the political risk with Democrats. They argue that a tax overhaul must be bipartisan to be fully embraced by the public. They cite President Barack Obama‘s health law — which passed in 2010 without any Republican votes — as a major policy initiative that remains divisive.
Congressional Democrats say they are eager to have a say in overhauling the tax code. But McConnell, who faulted Democrats for acting unilaterally on health care, is laying the groundwork to pass a purely partisan bill.
Both McConnell and Ryan said they plan to use a legislative maneuver that would prevent Senate Democrats from using the filibuster to block a tax bill.
McConnell says he wants the Senate to tackle a tax plan in the spring, after Congress repeals Obama’s health law. House Republicans are more eager to get started, but haven’t set a timeline.
Some things

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Updates from the 1st presidential debate

Tuesday, September 27th, 2016

The Latest on the first of three presidential debates between Democrat Hillary Clinton and Republican Donald Trump (all times EDT):
10:45 p.m.
Both candidates concluded the first presidential debate by saying they will accept the outcome if the other wins.
Hillary Clinton spoke directly to viewers and said, “It’s not about us, it’s about you.”
Donald Trump initially dodged the same question, saying he would make a “seriously troubled” America “great again.” He added: “I’m going to be able to do it. I don’t believe Hillary Clinton will.”
But Trump finished his answer by saying that if Clinton wins, “I will absolutely support her.”
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10:43 p.m.
Hillary Clinton is punching back at Donald Trump’s assertions that she doesn’t have the “stamina” to be president.
Trump has questioned whether Clinton has the physical fitness to be president and he repeated the criticism to her directly during the debate. Clinton’s response? Trump shouldn’t talk about stamina until he’s tried out the busy schedule she kept up as secretary of state.
Trump didn’t answer moderator Lester Holt’s original question about his past comments that Clinton doesn’t have the “presidential look.”
Clinton suggested the remarks were about gender, and she reminded the crowd of Trump’s past comments calling women “pigs” and other derogatory names.
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10:42 p.m.
Donald Trump says NATO needs to “go into the Middle East with us” to combat the Islamic State group. And he is taking credit for NATO focusing resources on combating terrorism.
In fact, the alliance agreed in July to contribute aircraft and conduct training in Iraq and has increased intelligence coordination there. And NATO set up an anti-terrorism program in 2004 — years before Trump criticized them as a presidential candidate.
Earlier this year, Trump criticized NATO for not focusing on terrorism. He said that afterward, he saw an article reporting that NATO was opening a new, major anti-terrorism division.
He said Tuesday

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Hillary Clinton, Donald Trump battle fiercely over taxes, race, terror

Monday, September 26th, 2016

In a combative opening debate, Hillary Clinton emphatically denounced Donald Trump Monday night for keeping his personal tax returns and business dealings secret from voters and peddling a “racist lie” about President Barack Obama. Businessman Trump repeatedly cast Clinton as a “typical politician” as he sought to capitalize on Americans’ frustration with Washington.
Locked in an exceedingly close White House race, the presidential rivals tangled for 90-minutes over their vastly different visions for the nation’s future. Clinton called for lowering taxes for the middle class, while Trump focused more on renegotiating trade deals that he said have caused companies to move jobs out of the U.S. The Republican backed the controversial “stop-and-frisk policing” tactic as a way to bring down crime, while the Democrat said the policy was unconstitutional and ineffective.
The debate was heated from the start, with Trump frequently trying to interrupt Clinton and speaking over her answers. Clinton was more measured and restrained, but also needled the sometimes-thin-skinned Trump over his business record and wealth.
“There’s something he’s hiding,” she declared, scoffing at his repeated contention that he won’t release his tax returns because he is being audited.
Trump aggressively tried to turn the transparency questions around on Clinton, who has struggled to overcome voters’ concerns about her honestly and trustworthiness. He said he would release his tax information when she produces more than 30,000 emails that were deleted from the personal internet server she used as secretary of state.
Tax experts have said there is no reason the businessman cannot make his records public during an audit.
Clinton was contrite in addressing her controversial email use, saying simply that it was a “mistake”. She notably did not fall back on many of the excuses she has often used for failing to use a government email during her four years as secretary of

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