Plus price of gasoline continue to go plummet. Mornings with maria begins right now. Lets check markets this morning. Closing out the week in europe, european indices are higher across the board. Ftse 100 is up 173 points, cac quarante up 231 and dax up 349 points. Bank of england cut rates of wasnt tenth of a percent, marks rally in asia overnight. China keeping lending rate unchanged but said the future easing the likely. Markets in japan are closed and the markets were higher across the board. Korea up 7 and a half percent overnight. Hong kong, better than 5 . Check out oil prices. They are surging. The price war is racing on. Take a look at crowd oil, 267 higher at level of 27 a barrel. Yield of 10year treasury currently lower but at 1 even 1. 050 . Thats down 10 basis points this morning on 10year. Senate republicans announcing covid19 relief plan complete with checks to american citizens and Small Business protections. Here is how the direct payments break down. 1,200 for individ
Mcshane. Glen hall. Independent women forum had hadly heed manning. What time frame were looking at. Looking like it is going in his direction. So much hundred unusual that whether it would get done minutia. They want this thing finalized by today. You start debates next week. Midweek the plan still is to have the president signing into law which is interesting because once you get to the end of next week, it is not talked about as much today, again were talking about all the details of getting this particular bill passed, you run up against the other deadline, making sure the government is funded, not shutting down next friday. Still trying to get you will of that done before then seems to be the rule. Neil i hear you. Glen, one thing you immediately hear of, as soon as one concession to made to senator to keep him in line you tick others off, right. You will hear others how we pay for it. Neil corker, why he was a no vote going in. Might remain a no vote. That is the challenge. They
Alabama. Well also talk to Oklahoma Republican senator james lankford, a member of the Intelligence Committee which is conducting one of the investigation into possible Trump Campaign collusion with the russians. Well also have plenty of analysis on all the news of the week and look ahead to next. Plus how the tax bill might impact you, its all ahead on face the nation. Good morning, welcome to face the nation im john dickerson. Republican tax plan is in the home stretch. The final package will be voted on tuesday in the house then moves to the senate. At this point it looks like republicans have enough votes to pass it. One s. 5 trillion tax cut plan roughly doubles the standard deduction for both individuals and married couples. It cuts individual tax rates, the top income bracket drops from 9. 6 to 37 . The Corporate Tax rate decreases, too, it goes from 35 to 21 . Obamacare ban mate with individuals no longer required to Purchase Health care. It could result in 1 million more peopl
Impact you its all ahead on face the nation. Good morning, welcome to face th im john dickerson. In the home stretch. Ll be moves to the senate. Int it looks like republhicans have enough votes to pass it. One s. 5 trillion tax cut roughly doubles the standard deduction fo it cuts individual tax rates, the top income bracket drops from 9. 6 to 37 . The Corporate Tax rate decreases, too, it goes from 35 to 21 . The bill eliminates the obamacare ban mate with long to Purchase Health care. It could result in 1 million more people becoming uninsured. Child tax credit is doubled to 2,000. Qualifying goes up to 500,000 and 1400 of the credit will be refundable for those whose income is so lowey dont pay income tax. Rest deduction is capped at 750,000 and deduction for state and local taxes is sha u. K. To so,000. According to the Congressional Budget Office and joint committee on taxation it will add 1. 6 trillion to the debt. And we bee gibb today with treasury secretary steve welcome, mr.
See those in paychecks in february and tax return they file in april of 2019. Those tax cuts are temporary they expire at the end of 2025 so that is something that im sure congress will fight over for the next eight years or so. Dickerson secretary also mentioned that 90 or able to fill their taxes out own card, one of the big goals, simplification. What hes talking about the income of people who would be able to move from itemizing to the standard deduction. Right now about 70 of people take standard deduction this will push that up closer to 90 because standard deduction will be larger and fewer itemized deductions that cap on state and local income taxes, will limit that. This doesnt mean everyone filing on a postcard. Simpler for those marginal itemizer like people who itemize now and wont under the new system, it will be simpler but some of those people in that group might actually end up paying more, it will be easier to keep track of your deductions your ultimate tax bill might