1412. Were joined by politico tax and Financial Services reporter, colin wilhelm. How big of a win was this for House Speaker paul ryan . This was a huge win. Ryan has said hes wanted to do tax reform basically since before he entered politics. Hes a disciple of jack kemp. He was very involved in the 1986 tax reform effort. Ryan, i saw someone tweet that yesterday was basically ryans dream since he was waiter at tortilla coast, a Mexican Restaurant on capitol hill. This was basically a lifetime goal for him and huge political win for him. He put his full weight behind this effort and got it past the house of representatives despite the fact that it some members in his own conference had some reservations over it. The attention now turns to the senate. What are some of the key differences in the bill coming out of the Senate Finance committee versus the one that passed on the house floor . The Senate Version of the tax reform has a repeal of the individual mandate, the requirement withi
Good morning a warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Lets get straight to the Global Market picture comes off a flat day yesterday the dow slightly higher, the nasdaq and s p slightly lower. Essentially flat this morning looking better. We are called higher more meaningfully than this time yesterday. The dow up 38 points s p 3. The nasdaq 6 or 7 points tenyear treasury note yields have stuck around the 2. 3 level on the tenyear still there, 2. 32. The flattening of the yield curve has paused over the last week or so its still continuing to a broader medium term theme, but in the shortterm not Much Movement last week was a low volume week because of the thanksgiving holiday. Lets look at markets around the rest of the world. Shanghai having a bounce back. Theres been weakness in china lately the shenzhen index bounced back over 1 shanghai itself up over a third of a percent elsewhere softer as you can see, but not significant. We got comments out of certain bank
Lets see what happened overnight in asia. The flnikkeiclosed down. Hang seng down by 5 points the shanghai composite up by a third of a percentage point. In europe in some early trading, looks like the dax is up by a third of a percentage point. The cac is up bay half py a half percentage point finally check out crude Oil Prices Crude Oil yesterday down by 1. 4 on some questions about u. S. Supply and also doubts about whether russia is going to be cutting output whether it will stick with that. This morning down 1 couple big stories were watching japans softbank offering to purchase shares of uber at a valuation of only 28 billio 4 . Thats a huge drop of the most recent valuation of 68 billion. Ubers board approved the investment in october. It would expand the board and cut the influence of founder travis kalanick. Big question about whether people will tend near this offer. The consortium is led by softbank, and they plan to take a stake of 14 in uber if they dont get it at this pri
Mr. Portman mr. President , i want to talk tonight about a once in a Generation Opportunity we have in this senate tonight to help middleclass families, to help grow our economy, and im going to talk about the facts. Im not going to be making stuff up. Im going to talk about the real middleclass tax cuts that are in this legislation. Im going to show you charts that indicate not just what kind of tax relief is going to be there for you and your family, but whos going to pay, where the burden is. And despite what youre hearing on the floor tonight from some on the other side of the aisle, the burden of taxation actually increased in this tax bill for the wealthiest americans. And in terms of defending the status quo, which is the situation now where jobs and investment are going overseas, i think it is an outrage that this body has sat and watched company after company go overseas because of our tax code. And to say we shouldnt fix it, i dont get that. If we dont lower the rate on busin
Listen to, the movies we watch but one thing hasnt changed, our outdated tax code hasnt kept up. We simply cant afford to wait any longer. Now is the time to act. Hoosiers need a raise. Working families across america need a raise. American businesses need to remain competitive in what is an increasingly global and hypercompetitive economy. And the bill were voting on today will provide real relief to all americans, especially middleclass families and those of modest means. The tax cuts and jobs act will create a tax code that is simpler, that is fair, and that allows hoosiers to keep more of their hardearned money. And thats what they want. This bill were voting on today will help create an environment where jobs and businesses can grow by making permanent a 21 Corporate Tax reduction. We have the highest Corporate Tax rate in the industrialized world. That is no way to remain competitive. We will lighten the burden on Small Businesses with this legislation. I come from a Small Busine