Caps Mortgage Interest Rate deductions at 750,000. And caps the state and local Tax Deductions at 10,000. Now, on the tax brackets that weve been talking so much about, this actually, this proposal, this bill that they are voting on keeps 7 personal incomes tax brackets. Lowest stays there with 10 . But lowers top individual rate. Down from 39. 6 to now 37 . So a lot of details with massive massive tax overhaul. But again at the end of the day today, republicans looking for a win. Sunlen, thank you so much. Well ta in close contact with you and keep your eyes on the screen here on the house floor as the vote is set to get under way. And after the fact a massive victory lap over at the white house. Before we get there, i have with
at all. And so thats going to be really interesting to watch next year. You know, especially in those districts where you have vulnerable republicans and the Hillary Clinton won in 2016. Maybe this is the message to help some of those republicans, abby, i saw
Reforms, adding into this mix, of course, this is now a Midterm Election years year. Things are not easy in an Election Year so that adds into this complicated agenda they have. Up here on the hill tomorrow white house aides will be meeting with top congressional leadership trying to work towards that Government Potential Shutdown Showdown that we might have in a couple weeks and this weekend, speaker of the house, paul ryan, and Mitch Mcconnell, will be heading to camp david to meet with the president about the legislative agenda ahead. Also changes in the senate. Al franken, minnesota senator, Stepping Down Today and then all eyes on utahs republican orrin hatch, will he run for an eighth term . What are we expecting . Thats right. This is frankens last official day. Tomorrow his replacement, tina smith, will be signed in. He steps down amid multiple allegations of sexual misconduct. That officially ends his term here in congress today. Of course utahs orrin hatch, this is a big ques
Now be bold. Throw a little obamacare into the mix, why not . We expect to see some action this afternoon in the Senate Finance committee as members work on their tax package, supporters are noting there is nonpartisan analysis saying the middle class would benefit from their tax package. To Mitch Mcconnells point, every group gets tax relief here. The differences that the burden of Taxation Shifts so that those at the top and are going to pay a little bit more of the burden and those in the middle class are going to pay less of the burden. Bob corker of tennessee, jeff flake of arizona have expressed concerns about the nations debt. G. O. P. Leaders will need to assure them that this tax package wont blow a hole in the deficit. Some key republicans a tax reform would bring in more revenue by bringing jobs and investment back to the u. S. Meanwhile, democrats are taking aim. Ive never seen a more blatant attempt at a corporate welfare bill than this bill. They are literally taking mone
A recap of the days headlines and a look at whats in store for tomorrow. Believe we will not had those kind of sustained numbers again the 2008 recession they say me did at antiquated jobs especially in manufacturing. Now replaced by automation and the industrialization of third world countries. New jobs are coming back and advanced manufacturing hence th need for retraining. Thats what fourth Generator Engine Manufacturer told the president in iowa on thursday. Hes got 150 employees and need a lot more. The jobs are out there, everybody is seeing they are busier than they dont know wha to do bird were so busy that weve got guys on mandatory overtime and their great guys, just want more of them. I saw a guy or waiting less at the said hes here are hiring. I think thats a good sign. Whether those gdp numbers ar sustainable may depend on whether employers like can fill those vacant jobs. One way to try to do that is by setting up expensive Job Retraining Programs made possible in part by
A recap of the days headlines and a look at whats in store for tomorrow. Before the dot. Com boom went bust until end of the clinton administration. In 1984, three years after the first reagan taxcut the annual gdp had 7. 2 . Many critics believe we will never hit those sustained numbers again. The 2008 recession weeded out antiquated jobs especially manufacturing. Now replaced by automation and industrialization of third world countries but new jobs are coming back in advanced manufacturing, hence the need for retraining. That is what matt told the president of iowa tuesday, he has one and 50 employees and needs a lot more. The jobs are out there. They dont know what to do. We are so busy we have guys on mandatory overtime, they are great guys, i just want more of them. I saw a guy, always hiring, that is a good sign. Whether those gdp numbers are sustainable may depend on whether employers like that can fill those vacant jobs. They are trying to do that by setting up expensive Job Re