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Economy

Mark Meadows on the rush to pass tax cuts

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Mark Meadows on the rush to pass tax cuts

Currently, the Republican Congress looks impotent. They’ve been unable to put a major piece of legislation on the President’s desk despite having control of the House since 2010 and the Senate since 2014. They put more legislation on President Obama’s desk to veto than they’ve been able to put on President Trump’s desk to sign.

Representative Mark Meadows of North Carolina spoke truthfully when discussing the upcoming tax cuts that are allegedly going to be passed soon. Tax reform is a huge deal that needs much deliberation to do it right, yet it seems like it’s being rushed through. Why? Because they need to get something on the books at some point.

“If we had a whole bunch of wins on major items up to this point, would we perhaps be a little bit more deliberate in our negotiations? I think the answer is yes.”

Source: National Review

Republican Tax Code: Repeal & Replace It

http://www.nationalreview.com/article/453648/republican-tax-code-repeal-replace-itToday’s Republican bill, drafted in the aftermath of the failure to repeal and replace Obamacare, is supposed to demonstrate to the party’s Trumpian base that congressional majorities matter and must be extended. Representative Mark Meadows (R., N.C.), chairman of the conservative House Freedom Caucus, has said (to USA Today): “If we had a whole bunch of wins on major items up to this point, would we perhaps be a little bit more deliberate in our negotiations? I think the answer is yes.” But the facts about participation in the income tax mean that the bill is unlikely to assuage the injured feelings of core Trump supporters, understood as downscale white working-class voters who supposedly are seething because they are not benefiting enough from burdensome government. They might have valid grievances, but not ones that can be addressed by income-tax rate reductions for individuals. Payroll-tax reductions would be another matter.

+Jesseb Shiloh is not-so-new to blogging. He enjoys things that most don't and doesn't mind and occasional nap. And he's never ambiguous nor contradictory most of the time. Find him on Twitter.

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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