Update 226: The 411 on 401; Keep 911 on Hold A Problematic Provision in Senate Banking Bill Today, the Senate Banking Committee released the bill text of its bipartisan proposal to reduce banking regulations. We drill down on a risky and perhaps politically damaging provision, Section 401, which rolls back systemic risk rules for 25 …
Update 225 — Hatching a New Tax Plan: Chair’s Re-Mark a Bid to Save the Bill Late Tuesday night, Senate Finance Chair Orrin Hatch filed a significantly modified mark of his Committee’s tax bill. As Committee Democrats have are processing the changes this week, we drill down on some of the major revisions to the bill, the rationale …
Update 224: A Surprise of Systemic Importance; Senate Banking Financial Reg Bill Examined Yesterday, the Senate Banking Committee released summaries of a bill that paves the way for reduced regulation of 26 regional banks representing $3.7 trillion worth of consolidated assets in one fell swoop. The bill encompasses issues ranging from consumer protection to basic …
Update 223 — Senate Tax Cuts and Jobs Act: Does Hatch’s Bill Satisfy the Byrd Rule? Last night, the Senate Finance Committee released the Chairman’s mark of the Tax Cuts and Jobs Act of 2017 — a significant reworking of the House bill. Committee Chairman and 40-year Senate veteran Orrin Hatch will do everything he can …
Update 222: A (Last) Look at the House Tax Bill; Under-the-Radar Deductions Eliminated in HR 1 This afternoon, the House Ways and Means Committee reported out HR 1, the Tax Cuts and Jobs Act favorably on a 24-16 party line vote. The bill goes to the House floor for consideration next week. Meanwhile, focus will …
Update 221 — House Bill Repeals Deductions, The Loopholes Most Beloved By Lobbyists Tonight, the House Ways and Means Committee concludes Day 3 of marking up HR 1, the Tax Cuts and Jobs Act of 2017. As Committee members debate the bill’s hundreds of provisions, the legislation’s impact on specific groups of taxpayers is …
Update 220 — Taxing Higher Education The price and value of education in the U.S. The House Ways and Means Committee began a four-day mark-up of H.R. 1, the Tax Cut and Jobs Act today. The 429-page bill is a comprehensive and an unmistakeable value statement about everything from marriage to housing, even to death and …
Update 219: Who is Jay Powell? A look at Trump’s Choice to Head the Fed Yesterday, President Trump announced Jerome Powell as his nominee to serve as the next Chair of the Federal Reserve Board. The reality is, Trump probably could easily have picked Janet Yellen, who has directed Fed policy as closely to what …
Update 218: GOP Double-Down on Trick Down Tax Bill: Rebates for Families, Windfalls for Cos. This morning, Speaker Ryan, House Ways and Means Chair Brady, and senior Republicans on the Committee formally introduced the Tax Cuts and Jobs Act. The legislation is 429 pages of substantial changes to the tax code affecting corporations and individual taxpayers …
Update 217: Trump’s Expected Fed Chair Pick Seen Likely More Establishment than Bannonist This Thursday, President Trump is expected to nominate the next Federal Reserve Chair. After months of speculation, the prohibitive favorite at this hour is current Fed Governor Jay Powell. But Trump enjoys the elements of suspense and surprise and has thrust the …
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