Wonderful example so assuming some social and economic provisions ought to be in the tax laws, lets think about tax credits. Every dollar of tax credit saves you one dollar. It doesnt matter what your marginal tax bracket is. So if you owe a thousand dollars and you get a thousand dollar tax credit, you dont owe anything. If you owe a million dollars, you owe a million minus 1,000. Now, the tax credits also should be refundable in many cases where they are social programs because a refundable tax credit like the earned income tax credit which says people who are working but dont earn a living wage are going to get extra money to help them have a living wage. And so if you make it refundable if you dont owe the income tax, youll get a direct grant. Both commissions said that about the Home Mortgage interest deduction, replace it by a credit. Congress ignored that. Finally, you might have the largest credit for people who need the help most and the least credits for people who need the h
Said as a firefighter with 53 cents. [applause] been unfairly just like to say that theres so many things you can do. Weve given awards to members of congress. They love to get awards. They want to be loved. We have taken ads out in their local newspaper which is really cheap and thank them for what they did. We persuaded the clinton to veto a very controversial liability bill by surrounding them with the dems. He was so happy to veto that bill even though he hated vetoing bills. So ill just say we also helped Robert Redford defeat to secretary gerald ford nominated in the governor of wyoming. The race that jc and we got so much media in bath that they continue the ms edition and prove to engage a fraud ahead of design. You never know where theyre going to be. We are the ones im on the side of the ledger and we are the ones who raised a key issues people care about. And we often win even though we have so little help. Thank you so much. [applause] thank you, john claybrook. If youre lo
Planned in diversifying our economy. Putin says sanctions are responsible for 30 of the crisis. U. S. Businesses looking south to cuba. President obamas decision to normalize relations opens the door to limited trade. U. S. Companies will be allowed to export telecoms equipment, agricultural products, and materials for small businesses. The president spoke with abc news. Andf you are a cuban exile you saw your family driven from a country you love, you are going to feel strongly and emotionally. There are friends of mine who feel that way. , we wante said to them to see greater freedom. Marco rubio of florida is the action. Ock saying he could hold up the confirmation of an ambassador to cuba and block the mc. Stocks in asia and europe are rallying after Janet Yellen Andy fed pledged to be patient. Keeping borrowing costs near zero for a considerable time. The most inrose 2 , more than a year. Sonys decision to cancel the interview will not come cheap. Sony spent about 80 million to ma
Economic security but Energy Security as a part of National Security for our country. Want to thank both senators senators on both sides of the aisle. This took a bipartisan effort. That that is what the people want, us working together to address important issues for our country. [applause] [inaudible conversations] ive got to go. There are a few more things to be voted on postcloture, so we are close to the end of the cloture list. The department of Homeland Security will be next. [inaudible conversations] well, number one, we hope they we will sign the bill. We will try to most likely attach it to other Energy Legislation that we we will continue to work on. Sen. Lisa murkowski has great ideas. There will be other opportunities. See it on the floor. [inaudible question] we have to give it to the desk. Working to the process today. Able to move it out of the senate with a good bipartisan vote. Obviously we have made some changes. The house will take a look at what we have done and i
Tonight, several breaking stories. President trumps attorney general, Jeff Sessions under fire. Recusing himself from any investigations linked to the Trump Campaign, denying reports he lied at his Senate Confirmation hearing about having contact with the Russian Ambassador twice before the election. Tonight, explaining his two meetings with the Russian Ambassador. The fighter jets buzzing the american destroyer. Uss porter. What the pentagon is saying. The deadly chase. The disturbing video now emerging. The teen pulled from his pickup truck, deputies tasing him, and the deputy with his knee on the young mans neck. Why did they meet before cpr . He did not survive. The damaging winds, and icecovered highways. The blast of cold now moving in. And video from inside this home and the warning tonight for families across the country when you put your house on the market. Good evening, and its great to have you with us here on a thursday night, and we begin with the major headline from wash