I think you know, that basic premise from the floor but the question we get asked a lot and is reduced to make some basic assumptions were we will end up with the brackets with a family earning 100,000 with two children to use as standard deduction they can expect a tax cut of 1,000. That is her we will continue to be. So with those criticisms to give to the rich one is from your home state of connecticut but with though local there are some certain people that are i atomizers. Our plan is based on lowering rates and expanding paid disability think what were doing. We are getting rid of the of loopholes so we have this designed a plan that is a basic plan and were sticking with it. So they could itemize. 25 of American Families today itemize. Do not itemize so youre talking about 25 percent of the population. Also those that tell about American Families. We are expanding the is hero rate up at 24,000. The first 24,000 of income they will pay zero be lower the of rate down a 12 . Were e
Steady at 7 as expected. They have seen a lot of the inflation pressures ease in the eeks of september. A lot of economists do not expect to raise rates next year. Theyre holding with their Interest Rates at 7 . Let us look at dollar peso. Dollarooking at a weaker story. That has been a trend since the beginning of this year. The bank of Mexico Holding in. Let us circle back and look at the u. S. Scarlet was talking about tax reform. The euphoria is here. All of this was right on the screen. We are finally seeing some of the euphoria come back into the get thiserhaps we will done. Im sure there will be a lot of lobbying efforts. I will note that the dow is posting the biggest gains. Up 0. 2 . Highseaching record coming up 0. 4 . A lot of this has to do with the strong gdp number we saw. The second revision was 3 , up atm the first front we saw 2 . When the economy does better, we are shipping goods all over. For fedex, i will give a shout out to my producer who pointed out a cool story
Bipartisan committee for responsible federal budget said its initial analysis of this plan shows the plan would add 2. 3 trillion to deficits over the next decade. Good afternoon. Like to start by saying that the president and all of us at the white house were thrilled to see congressman scalise back on the house floor today. Our thoughts and prayers have been with him and his family for many weeks now and well continue to root for him as he works towards a full recovery. Today the president is actively engaged in monitoring the Recovery Efforts in puerto rico. This morning he received an update from fema administrator brock long. Administrator long has briefed members of the senate this morning and members of the house this afternoon. The full weight of the United States government is engaged to ensure food, water, health care and other lifesaving resources are making it to the people in need. At the request of the governor whos doing a terrific job, the president waived the jones act
Things you guys are talking about. They do share buybacks and other financial engineering. How can you guarantee that wont happen . Look, weve heard that numerous times. If thats our worst case scenario, that companies repatriate their money and use it for share buybacks and dividends, what happens . They buy back shares, they issue dividends. We get another 20 tax on Capital Gains or dividends, and then the people that get that money back do what . They reinvest it back in the economy in new investments, in new capital where its putting some very enticing rule into the system that will entice people to invest capital for the next five years. Were giving people a five year writeoff that they can instantly expense. If that happens, thats fine. We know that money will get invested in the economy and drive jobs, economic growth, wages and prosperity. Right over here. Gary, youve been asked the question twice, and you didnt answer. Id like to get you to answer this because i get your messa
Cutting taxes in the united states. You know where we are in the process. The group of six has been working really well together. We are now in the hands of congress. We want to go through a normal, regular process, both in the senate and house. We are working well with drafting committees. The communities will work and they are working well and quickly. We will try to drive tax reform as quickly as we can. You know the basic premise behind it. I will not take you through what we have talked about before. The question we get out, i will say it now, we have to make now on whereions we will end up with the brackets. I will tell you, based on our assumptions, a typical family earning 100,000 with two children that has been a standard the doctor standard the doctor, they can expect a tax cut of 1000. That is where we are headed. I think i will open it up to questions and see what is on your mind. Isorter the big criticisms to give it away to the rich. The one criticism that seems to be rel