Four days. The story here, Home Builders and housing. Home builder stocks getting it hard on the proposal to slash the mortgage cap in half were going to give you more on that coming up with somebody angry about it as well three big stocks were watching this hour. Apple, Company Getting set to release its earnings tonight a lot of questions about the iphone 8 and x facebook shares down after Mark Zuckerberg said he is serious about facebooks russia response and he will boost spending to police content thats raising concern about future profit and margins. Time warner taking a hit much more on these three stocks ahead. Lets get straight to this big tax plan we have our oreporters covering every angle for you. Theres going to be four tax wrack ets. For households that earn over a Million Dollars of income. The next tax rate will be 35 . That will apply to income between 260,000 and a Million Dollars. The 25 tax rate will apply for income between 90,000 and 260,000. The 12 rate, the lowes
Norquist, American Enterprise Institute Fellow alex brill, and Cato Institute tax policies studies reported Chris Edwards. This is an hour. All righty. I think were going get started here. I want to welcome you all today. Im peter russo, the director of Congressional Affairs at the Cato Institute. And i want to thank you all for coming today. This is a capitol Hill Briefing entitled the home stretch for a major tax reform. And of course we crossed a big hurdle today in the house as they agreed to the Senate Budget proposal which of course paves the way for a reconciliation derived tax reform package. This spring the Cato Institute released the eighth cato handbo. And our recommendations for tax reform begin on page 45 of that publication. And further there are four other chapters that deal exclusively with fiscal policy. If you would like more copies, please contact me after the program. Meanwhile fully searchable pdfs are available at cato. Org. With that i would like to introduce rya
Harassment allegations. Well have the latest. Its five oclock. Our main story is that the Foreign Office has confirmed that a british missionary who was kidnapped in nigeria has been killed. Ian squire was seized by gunmen last month. Three other british hostages have been freed and have returned home after nigerian authorities negotiated their release. The circumstances surrounding mr squires death three weeks after his kidnap are not clear. It is understood that mr squire and three fellow Christian Charity workers were abducted on october 13th from their accommodation in delta state in the south of the country as our correspondent anisa kadri reports. Ian squire died as he tried to improve lives. Its believed he was taken by improve lives. Its believed he was ta ken by militants improve lives. Its believed he was taken by militants along with three other Christian Charity workers. He frequently left the uk where he practised as an optician to give free medical aid in africa. The uk F
We have the brexit show coming up, brexit negotiations over last week. Beopean stocks seem to pretty steady. There hasnt been that much move over the last five days. Study after yesterday. Concern that of the u. S. Tax reform plan is encountering stumbling blocks. Gains, asng back some theres not so much of a risk. You can see the vix index up 5 . Heres nejra cehic with first word news. Nejra President Trump has arrived in vietnam and delivered a speech. He said that washington will only make trade deals with countries that play by the rules. Not formally will meet with Vladimir Putin. There has been speculation that the president and his russian counterpart what cost talks today. Letident trump will not the United States be taken advantage of anymore. Put americagoing to first, the same way i expect all of you to put your countries first. The u. S. House ways and Means Committee has approved intervention of tax cut plans. Bill costs have been trimmed, while adding limited Liability Co
[inaudible conversations] senate reconsider the consideration of the tax cuts in jobs that and begin by walking through with the chief of staff from the joint committee on taxation following the conclusion of this process which will likely take some time it will be provided to members later today. Because of a large number of amendments we have processed a modified mark will be given to members later today and then everybody can have time to read over the modifications. We will reserve the markup for tomorrow morning with a the modified mark i appreciate members participation of yesterdays session and was glad to hear everyones initial thoughts however the number of issues were raised the required additional responses that characterization the bill as a massive tax cut for the rich that particular claim was repeated by almost every minority member of the committee but it is just not true. The committee on taxation has concluded not only does it maintain the tax code but the largest tax