And a picture outside the hearing room taken a bit earlier, as protesters gathered in the hallway outside the Senate Budget committee. Many of them shouting kill the bill, dont kill us. The hearing was interrupted several times as police removed demonstrators from the hearing room. The Senate Budget committee met today, and approved legislation to reform the tax code, and open the Arctic National wildlife refuge to expanded oil and gas drilling. The 521page combined reconciliation bill contains three major pieces of legislation. Tax reform and the individual Health Insurance mandate repeal bill passed by the finance committee and the Energy Committees oil and gas Drilling Initiative in alaska. The measure passed the Budget Committee today on a 1211 Party Line Vote. Prohibits the Budget Committee from substantially changing the proposed legislation thats before us. Our work today is a ministerial nature. We are here to combine the legislative recommendations from the finance and the ene
Recommendations to the committee of the budget of its house which upon receiving such recommendations shall report to the house. This is a different process from the markup of our budget resolution. We are operating under the constraints imposed by the statute. Practice ofith past the committee, when considering reconciliation bills, no amendments are available or todays market. Todays markup. Members who wish to amend this legislation will have that opportunity on the senate floor, where the bill will be open to an unlimited number of amendments. But today well vote only on whether to report the reconciliation package to the full senate. For the information of senators following my statement, ill recognize Ranking Member sanders to give remarks. Well then vote to report the legislation while we have a forum present. The members are advised we expect the vote to occur after we finish speaking. After the two of us finish speaking. Following the vote, i will recognize other members wishi
Several times by protesters. The tax bill now goes to the senate. The committee will come to order. As the congressional budget act prohibits the Budget Committee from substantially changing the proposed legislation before us, our today is administered area of nature. We are here to combine the recommendations and to report the combined bill to the full senate. I remind my colleagues that section 310 b of the budget act states when more than one committee of the house or senate determined to recommend changes, each such committee so directed will make such recommendations and submit said recommendations to the committee of the budget of its house which upon receiving such recommendations shall report to the house. This is a different process from the markup of our budget resolution. We are operating under the constraints imposed by the statute. Practice ofith past the committee, when considering reconciliation bills, no amendments are available or todays market. Todays markup. Members
Cheryl stocks open higher in europe on the back of a big extra for a vote in the senate that happened friday. European markets pointing to a higher open. Trip and half . Cost it one to 2 . Cheryl done deal, cbs by aetna for 65 billion. Fbn am beginning right now. Lauren good morning. 5 01 a. M. Right now. Thanks for joining us. And lauren simonetti. Cheryl good morning. Im cheryl casone. A latenight decision to get the tax reform bill in the senate done and done. Lauren the wee hours of the Morning Saturday morning. Thats when we begin with this morning. The senate approving the tax reform bill. The real work begins to iron out differences at the house version. Congress returning to work a day early to get the socalled reconciliation process underway. Gop lawmakers to send a final compromise bill to President Trump by christmas. Thank you, mr. June 22 Republican Congress members to get the next. They still need to be made in confidence to get these things done. Big difference inside th
Americans by more than 61 would eventually trickle down. Thats what they trickle down. Thats what they thought. Even on the eve of the Great Recession after income tax after tax income to the richest 1 had soared while middleclass wages continue to stagnate, we are still waiting for the bush tax cuts to trickle down and to pay for themselves and they likely never will. These republican proposals make matters even worse by financing tax giveaways to big businesses and the rich on the backs of people trying to get by. Economists relying on the federal survey of Consumer Finances recently determined that the top 1 of american households now hold about 40 of the nations wealth, which is a 50year high. This legislation overwhelmingly benefits them while raising taxes on 48 of american taxpayers by 2027. Many of the families whose taxes will go up have already been through tough Economic Times during the Great Recession. Productivity in the American Workforce has been declining and wages hav