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Economy

Ted Cruz opposes House GOP’s plan to raise taxes on some

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Ted Cruz opposes House GOPs plan to raise taxes on some

The GOP tax plan currently being poked and prodded in the House would eliminate certain tax breaks that would actually raise taxes for people in high-tax states like New York and California. He also asked for language to be added to the bill that would repeal the individual mandate in Obamacare.

These are two points that every conservative and/or Federalist should appreciate. Raising taxes on anyone, even those in blue states, goes against the mandate set by the people when they gave control of the House and Senate to the GOP. As for repealing the mandate, this is an absolute no-brainer. It’s actually quite shocking the language isn’t included in the GOP already.

Republican strategy on the House tax bill is pretty straight forward. The way they see it, the states that will be negatively affected are states that the GOP can’t win often anyway. This is, of course, a very shortsighted strategy, but in their quest to not explode the deficit and mitigate expansion of debt, they view it as acceptable to essentially punish those who choose to live in high-tax states.

“There are some taxpayers who are losing exemptions, particularly in some high-tax states like New York or California that could conceivably be paying higher taxes. I think that is a mistake. I think tax reform needs to cut taxes for everybody,” Cruz said Tuesday.

Cruz joins Senators Rand Paul and Tom Cotton in calling for the mandate repeal. Doing so would prevent tax penalties on those who choose not to buy health insurance.

“One of the real virtues of repealing the individual mandate, number one, [is] every Republican in the Senate has voted to repeal the individual mandate, 100 percent of us,” Cruz said.

For whatever reason, the House does not intend to tackle this according to a source familiar with the tax bill. It’s set to be unveiled Thursday.

Further Reading

Cruz Is Now Opposed to the Tax Reform Bill – Cortney O’Brien

https://townhall.com/tipsheet/cortneyobrien/2017/11/07/cruz-opposed-to-tax-reform-bill-n2406127Sen. Ted Cruz (R-TX) is the latest conservative to oppose the GOP’s tax reform plan. Cruz, who can’t get past those tax hikes, joins the likes of Sens. Tom Cotton (R-AR) and Rand Paul (R-KY), who want Republicans to remove the Obamacare individual mandate tax from the bill.

The provision would raise an estimated $300 billion to $400 billion over the next decade, which Cruz and other Senate conservatives say could be used to lower individual tax rates even further.

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Economy

The number of companies helping employees thanks to tax cuts is 164 and rising

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The number of companies helping employees thanks to tax cuts is 164 and rising

Republican tax cuts were met with instant success on the business front when the President signed them into law last month. Companies across the nation rewarded their employees and customers by passing on some of the saving they’ll get. It’s helping to push the economy even higher than it was last year.

As Nick Givas covered over at Daily Caller, the total number of companies giving back to their people is 164 and rising:

164 Companies Credit Tax Reform For Bonuses And Pay Raises

One hundred sixty-four companies have gone on record stating they gave bonuses and pay raises to employees because of the new tax reform law, according to Americans for Tax Reform. The list has been continually updated and jumped from 40 companies to 164 in 10 days, The Washington Examiner reports. The businesses include: American Airlines, AT&T,… (more…)

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Democrats

With both sides wanting more spending, Wednesday’s government funding discussions end in a stalemate

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With both sides wanting more spending Wednesdays government funding discussions end in a stalemate

There was no movement Wednesday as top Republican and Democratic leaders met at the White House to lay down their ultimatums for funding the government. With two weeks of funding still allotted, neither side seemed to be in a hurry to compromise.

One of the main sticking points was purely political. Democrats wanted something written into the spending agreement that would give certain guarantees to “Dreamers” who they say are having their futures jeopardized by President Trump’s rescinding of President Obama’s DACA executive order. This is purely for show to try to win back some of the Hispanic voters they lost in 2016 and into 2017. With the President showing more compassion for “Dreamers” than anticipated by preemptively demanding that Congress put together a permanent fix, Democrats needed to regain ground and act as if they’re the ones fighting on behalf of illegal immigrants.

Republicans were equally theatrical with their opposition to such an addition to the funding agreement, claiming they wanted to first fund the government, then address DACA before the March deadline. They could just as easily allowed something in the funding agreement, knowing they’re going to pass some variation of amnesty in the next month and a half, but instead chose to draw the red line.

The more alarming sticking point in the funding deal is that both sides want to spend more and are actually leveraging the other side’s spending increases to negotiate for spending increases of their own. Republicans want to raise defense spending. Democrats are opposed unless they can raise non-defense spending as well. In the end, it’s very likely that this “impasse” will result in both sides getting what they want: move spending across the board.

Further Reading

No spending deal after GOP, Dems meet with White House officials Wednesday

http://www.washingtonexaminer.com/no-spending-deal-after-gop-dems-meet-with-white-house-officials-wednesday/article/2644897“It is important that we achieve a two-year agreement that funds our troops and provides for our national security and other critical functions of the Federal government,” the White House, House Speaker Paul Ryan, R-Wis., and Senate Majority Leader Mitch McConnell, R-Ky., said in a joint statement. “It also remains important that members of Congress do not hold funding for our troops hostage for immigration policy.”

“We’ve been clear about these budget priorities from the beginning and hope that further discussions will lead to an agreement soon,” they added.

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Economy

Leon H. Wolf on both major parties growing government and budgets

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Leon H Wolf on both major parties growing government and budgets

Leon H. Wolf, managing editor at The Blaze, is a big fan of limited government. Unfortunately most Republicans and all Democrats on Capitol Hill tend to favor expanding government. It’s no wonder Wolf is opposed to the way leaders in the two major parties are attempting to fund government.

In a recent article, he went after the parties and the whole process being initiated with the new year. One line in particular is worth highlighting:

“It should be noted that almost no one in either branch of government on either side is attempting to actually reduce the size of the government or its budget.”

Source: The Blaze

Republicans and Democrats open 2018 by arguing over how much to grow the size of government

http://www.theblaze.com/news/2018/01/01/republicans-and-democrats-open-2018-by-arguing-over-how-much-to-grow-the-size-of-governmentAs the holiday season comes to a close, Republicans and Democrats are opening the new year by resuming debate over a measure to fund the government through the end of 2018. The two sides failed to reach a compromise before the end of the year on such thorny issues as protection for Deferred Action for Childhood Arrivals (DACA) recipients and funding for a wall on the southern border. But in addition to these sticking points, the two sides also appear to disagree over exactly how much the government should grow.

According to Reuters, the White House is pushing for massive increases in military spending along with a 7 percent increase in overall non-discretionary non-military spending, while Democrats are holding out for an 11 or 12 percent increase in non-discretionary spending.

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