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Trump's Tax & Spending Plans

Discussion in 'Politics Forum (Local/National/World)' started by searcher, Sep 27, 2017.



  1. SongSungAU

    SongSungAU Midas Member Midas Member

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    Congress is never guilty of letting the American people keep too much of their own money. What Congress is guilty of is spending too much.

    December 31, 2017
    A Closer Look at Apocalyptic Predictions on Trump's Tax Reform
    By Jeffrey L. Scribner
    On December 20, Congress passed a historic tax reform and tax cut measure that was signed into law by the president on December 22. Critics of this measure have been insisting that the reduction in taxes will exacerbate the deficit and long-term debt. Nothing of the sort will happen, even though several members of Congress and even the CBO think it might.

    We can show via historical graphs produced by the Saint Louis Federal Reserve Bank that changes in tax policy and rates since 1929 have had little effect on the amount of money collected by the federal government as a percentage of GDP. (See here.)

    [​IMG]

    Put another way using historical data, it appears that the only thing that has a great effect on federal government receipts is GDP, not the type and rate of tax levied. Thus, persons seeking to raise government revenues would be wise to do things that would promote GDP growth. Since the probable effect of the tax reform and tax cut passed by Congress is an increase in GDP, it appears that those objecting are uninformed or disingenuous.

    Moreover, while the tax reform that was enacted will improve economic growth and boost government revenues, it could have been even better in both respects. First, and most importantly, the corporate rate should have been set even lower – preferably to ten percent or lower. A zero corporate rate would pay bigger dividends in both growth and government receipts. Corporations do not really pay taxes anyway. Their employees, customers, and shareholders are the real payers of the corporate tax.

    Second, the personal income tax was left too complicated. Simplicity reduces compliance costs and lessens the drag of income taxes on economic growth. Some politicians have insisted on some form of deduction or credit for state taxes, mortgage interest, child credits, and other pet causes. All of these things complicate the tax and increase the compliance cost and the drag on economic growth. Moreover, with the increased standard deduction, very few taxpayers will really benefit from these deductions. When you hear the cry to insert this or that deduction or credit into the tax code, remind all around you that there will be a cost in terms of economic growth and government receipts.

    Lets take this a step farther. The Saint Louis Fed also published a chart showing the relationship between federal government spending and GDP. (See here.)

    [​IMG]

    From this chart we can see why there are deficits and government debt. We can also see that Congress can prevent deficits and any addition to the debt by promoting GDP growth as noted above and holding spending to some percentage of GDP that is lower than receipts.

    Since WWII, federal government receipts have averaged about 17% to 19% of GDP. If Congress would insist that total outlays cannot be greater than 17% of GDP, there could be no deficit and no growth in the debt. Picking a lower percentage of GDP would guarantee a surplus.

    While we are on the subject of simple truths about taxing and spending, let's once again consider compliance costs and tax simplification. Any tax provision that makes compliance more complicated costs the taxpayer more to pay his taxes and results in lower receipts for the government. Therefore a simple, no-deductions flat tax is the best from a revenue and compliance point of view.

    Many members of the House and the Senate profess not to know the simple facts presented above and increase spending on their pet projects rather than rein in total spending to match receipts as a percentage of GDP. Moreover, since we have practiced spend, spend, spend for several years, we are now at a point where total outlays must be curtailed while outlays for some areas such as infrastructure and defense must be increased. This will increase the desire of some senators and congressmen to make spending deals that will exceed the limits that must be met in order to stop budget deficits and additions to the already huge national debt. For more on this subject, see here and here.

    In the fall of 2018, we will elect or re-elect all of the members of the House and about one third of the Senate. Will the voters make sure that the candidates for the House and Senate stake out a position on taxation and spending that recognizes the distinctions drawn above? If not, why not? Think about it. Our security and prosperity and those of our children and grandchildren might depend on it.

    source: http://www.americanthinker.com/arti...alyptic_predictions_on_trumps_tax_reform.html
     
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  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Trump Tax Plan Already Causing Massive Amounts Of Horseshit To Trickle Down Into Steve Mnuchin’s Mailbox
    By Heisenberg

    2 Comments / Dec 26, 2017 at 10:54 AM

    Over the weekend, Robby Strong, a clinical psychologist with the County of Los Angeles Department of Mental Health, hand-delivered a Christmas present to the Bel-Air residence of Steve Mnuchin.

    That present: a gift-wrapped box of literal horse shit along with a greeting card that read as follows:

    Dear Mr. Mnuchin & Trump, we, the American people are returning the ‘gift’ of the Christmas tax bill. Because it’s complete and utter horseshit. Warmest Wishes, The American People.

    Prior to dropping the box off in Bel-Air, Strong posted pictures of the card (and the horse shit) on Facebook:


    [​IMG]


    “I was talking to a friend about the tax bill and we were both complaining about how it’s total horse shit,” Strong would later say, before explaining that one of his other friends who was present for the start of the revolution has a horse ranch in Sylmar. “I wrapped it up Christmas style,” he added, noting that he “wanted it to be nice and festive.”

    Before delivering the box, he posted the following message on Facebook:

    I need someone to ride along and document my Secret Santa project. I’m going to hand deliver boxes of horse shit to Steve Mnuchin over in Beverly Hills. Because if money is free speech, so is horse shit. PM me. We’ll go down in the anals of history. No disguises, no fake names. Totally owning this one. You’re only powerless if you do nothing!!!

    Well, the bomb squad was not amused and neither was the Secret Service, but ultimately, he’s not expected to face charges because hand-delivering horse shit isn’t a crime. “It was a gift-wrapped package of poo,” Strong said Sunday. “Is there a law that you can’t drop off a box of poo? Not really.”

    Yes, “not really.” And it’s a good thing, because if that were a law, it seems likely that working class families would have a case against the GOP and Donald Trump. Simply put, for low income Americans, the tax bill does indeed resemble “a gift-wrapped package of poo” (to quote Strong again).

    Here’s the thing. I don’t begrudge the wealthy the benefits that are set to accrue to them from the tax bill, nor do I think it’s some kind of crime against humanity to encourage corporations to buy back more stock and further enrich shareholders.

    Rather, the problem with this bill is the dishonesty inherent in the sales pitch. Back on November 29, in a speech to an invitation-only crowd in Missouri, Trump said this about the tax plan:

    This is not good for me. Me, it’s not so — I have some very wealthy friends. Not so happy with me, but that’s OK. You know, I keep hearing Schumer: ‘This is for the wealthy.’ Well, if it is, my friends don’t know about it.

    Obviously, that is absurd. And underscoring the absurdity was an eyewitness account of Trump telling members of his Mar-a-Lago club that “you all just got a lot richer” at a dinner on Friday night.

    This administration is mind-bogglingly tone deaf. Not only has there been no attempt to even nibble around the edges of the truth when pitching this tax plan, they’ve seemingly gone out of their way to create horrible optics.

    I would say it’s not lost on Steve Mnuchin that part of the reason he ended up with a package of horse shit on his driveway is due to the fact that last month, he let a picture of himself holding up a sheet of actual dollar bills bearing his actual signature escape onto Twitter right in the middle of the extraordinarily contentious debate about the tax plan, and that picture featured Louise Linton striking the most nefarious pose imaginable as she sneered at camera while clutching the newly-printed money with one black-gloved hand. But I’m not entirely sure that would be accurate. That is, maybe it is lost on Mnuchin.

    After all, the bad optics surrounding that photo op were apparently lost on him and when Chris Wallace gave him a chance to try and do a bit of damage control, Mnuchin literally said, on national television, that he “takes it as a compliment” when the American public compares him and his wife to “James Bond villains.”


    [​IMG]


    So again, I’m sure the biggest affront to working class families who have taken the time to understand what this tax plan actually means is the fact that by 2027, households bringing in more than $1 million (the top 0.6% of filers) will be getting 81.8% of the benefits.

    But to me (and probably to anyone else who doesn’t expect to be absolutely fucked by this plan but who nevertheless does not enjoy having their intelligence insulted), the biggest affront is the sheer brazen disregard for decorum. It reminds me of a bumper sticker I once saw while driving through the backcountry in Georgia (don’t ask what I was doing there). Turns out you can order these stickers so I have a screenshot for you:


    [​IMG]


    Apparently, this is common courtesy in the South.

    Well, there hasn’t even been a nod to common courtesy from this administration when it comes to the tax plan. Not only have they gone out of their way to rub how rich they are in everyone’s faces, they’ve also generally eschewed efforts to explain why trickle-down may actually work this time in favor of 450-word one-pagers that, unlike dollar bills, Mnuchin couldn’t even be bothered to put his signature on. In other words, they’re not even putting in the requisite effort to lie about the expected benefits of trickle-down economics.

    And speaking of trickle-down economics, have a look at this chart from Pavlina Tcherneva:


    [​IMG]


    Someone needs to remind Trump and Mnuchin (and the rest of them) that if you’re going to go ahead and supercharge the dynamic illustrated in that chart (which, incidentally, shows that this is not a phenomenon that’s confined to Republican administrations), you’ve at least got to put in an honest effort when it comes to lying to the public (did you catch the oxymoron there?).

    You can’t just trot out the billionaire President in front of an invitation-only crowd and have him say things like “rich people don’t like me” and “this isn’t good for me, believe me.” Especially not when the Treasury Secretary’s wife is poor-shaming people on the ‘Gram and finger fucking actual dollar bills when the ink on her husband’s signature isn’t even dry.

    For now, America is just calling it horse shit. But if Robby Strong decides he really wants to make a difference, he’ll drop off photocopies of the dictionary definition of “Kleptocracy” on the driveways of low income Americans. That’s when things get really interesting.

    https://dealbreaker.com/2017/12/heisenberg-mnuchin-horses-tax-plan/
     
  3. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    Many of the people who make < $40k will not receive a huge deduction. Why is that? Because they don't pay that much in taxes, if any anyway. I don't see a problem of making people pay less than they have been and in fact believe everybody should pay at least something so they have a stake in government.

    I have been giving one paycheck every quarter for years to the Treasury to cover taxes in addition to the regular payroll taxes I pay. How many wage slaves out there can give up one entire check every 3 months and still pay at the end of the year despite the fact they pay every 2 weeks too? Can they even do it? Yes, we small business owners have been taxed into oblivion. Now it's time for redemption.
     
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  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    From the I shit you not file...............

    It got us tax cuts! The White House defends President Trump's golf's diplomacy, insisting it helps him develop 'deeper and better relationships with members of Congress'
    • Press Secretary Sarah Huckabee Sanders was asked what President Trump has accomplished for the American people during his time on the golf course
    • The spokeswoman said golf has helped Trump develop 'deeper and better relationships with members of Congress'
    • The White House often won't confirm if the president is golfing, even if he's at a Trump golf property, nor will they name his partners
    • Reporters have pushed for greater transparency as the president marked his 91st trip to a golf club on Monday
    • Huckabee Sanders said the tax bill's passage was aided by his golf game, though pool reports indicate the president has only played with a handful of lawmakers


    Read more: http://www.dailymail.co.uk/news/article-5230051/White-House-says-Trumps-golf-game-got-tax-cuts-passed.html#ixzz5386PxNPT
    Follow us: @MailOnline on Twitter | DailyMail on Facebook
     
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Republicans passed their tax bill. Now they're spending $10 million to promote it.

    The Washington Post
    Mike DeBonis
    6 hrs ago

    Two weeks ago, Republicans passed their massive rewrite of the federal tax code. Now a GOP group is spending millions to convince voters they will benefit from it.

    The American Action Network, a nonprofit group with close ties to Republican congressional leaders, is launching a $2 million round of TV ads promoting the tax bill Wednesday, the first salvo in a $10 million campaign to give key House Republicans a boost going into November’s midterm elections.

    The ads, running in 23 districts, feature a couple sitting on their couch extolling the benefits of the bill — “will save a typical family more than $2,000”; “helps create jobs and boost middle-class income” — and thanking the local lawmakers for their votes.

    So far, the public is not sold. Several public polls released last month, including surveys from CNN and the Wall Street Journal/NBC News show that pluralities of Americans oppose the GOP tax bill, citing its benefits for corporations and the wealthy. Many Americans, the polls show, believe they will see a tax hike under the bill — not a tax cut.

    The centerpiece of the $1.5 trillion bill is a dramatic cut in the corporate tax rate from 35 percent to 21 percent. Many business owners, meanwhile, will be entitled to a new 20 percent deduction on their business income, and wealthy Americans will see more of their assets sheltered from the federal estate tax. Wage earners see comparatively scant benefits — a larger standard deduction and child tax credit, as well as modestly lower income-tax rates, all of which will expire after 2025.

    Democrats have been eagerly pointing to the outsize benefits for corporations and top earners, but Republican leaders believe that the public will warm to the bill once they see the benefits. For instance, employers are expected to start withholding less income tax from employee paychecks starting in February. “If we can’t sell this to the American people we ought to go into another line of work,” Senate Majority Leader Mitch McConnell (R-Ky.) said after the Senate vote.

    But sell it they must, said Corry Bliss, who runs the American Action Network and its affiliated super PAC, the Congressional Leadership Fund. Amid major head winds for Republican candidates this year, his theory for doing so is simple: Lawmakers must make the case to voters that they have made a difference in everyday lives, and “grand economic theory” about boosting economic growth won’t get it done.

    “It has to be connected to the individual,” he said Tuesday. “People care about themselves and their family, and they will reward people who are looking out for them and they will punish people who are not looking out for them.”

    Bliss, whose super PAC is expected to raise more than $100 million for GOP House candidates, warned that outside groups alone won’t be able to sell the tax bill to the public.

    “Every member of the Republican Party has an obligation to now sell this bill,” he said. “At the American Action Network, we’re going to spend at least 10 million dollars over the next two months to begin the process of educating the American voters on why this bill benefits them, but the entire party has to do this. And we have to do this for the entire year. This is just the very beginning of this project.”

    http://www.msn.com/en-us/news/polit...to-promote-it/ar-BBHO08f?li=BBnb7Kz&ocid=iehp
     
  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  7. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

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  8. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    bring it on, I got places to be...........
     
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  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    California Democrats Propose Business Tax Hike To Mitigate Tax Cut's Impact
    [​IMG]
    by Tyler Durden
    Sun, 01/21/2018 - 14:31


    The Trump tax plan is going to hammer taxpayers and small businesses in states like California and New York where curbs on so-called SALT deductions and mortgage interest deductions will likely lead to a net tax increase for many.

    To try and mitigate - or even negate - its impact, New York Gov. Andrew Cuomo, California Gov. Jerry Brown and a handful of other governors have mused about workarounds that would help compensate taxpayers in the state for the changes.

    Taking this one step further, Assemblymen Kevin McCarty of Sacramento and Phil Ting of San Francisco introduced Assembly Constitutional Amendment 22 Thursday, an amendment that would raise corporate taxes on California companies with revenues higher than $1 million. The increase would be for an amount equivalent to half what they received from the federal tax cut, according to the Los Angeles Times.

    "I’ve seen enough billionaire justice in the first 11 months of this presidency to last my lifetime," McCarty said in a statement. "At a time when reckless federal tax policy favors billionaires over middle-class workers, ACA 22 will help ensure that California can continue to grow and support middle-class families throughout the state."

    But with several high-profile state lawmakers recently felled by sexual harassment scandals, Democrats in the state assembly no longer hold a super majority.

    Here's the San Francisco Chronicle:

    ...Two Assembly Democrats, Matt Dababneh of Encino (Los Angeles County), and Raul Bocanegra of San Fernando Valley (Los Angeles County) amid sexual misconduct allegations. Another Assembly Democrat, Sebastian Ridley-Thomas of Los Angeles, resigned citing health issues. In the Senate, Democrat Tony Mendoza of Artesia (Los Angeles County) is taking a leave of absence pending an investigation into sexual misconduct allegations.

    Because of this, McCarty and Ting are facing an uphill battle: The amendment would require a supermajority to pass. Then - assuming Gov. Jerry Brown signs the amendment - it would then need to be confirmed by voters in the fall.

    But in a state like California, this definitely isn't something to rule out entirely.

    https://www.zerohedge.com/news/2018...se-business-tax-hike-mitigate-tax-cuts-impact
     
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  10. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

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    image.jpeg
     
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  11. Buck

    Buck Gold Member Gold Chaser

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    and all those business' who can't afford the extra tax go bye bye
    and there go the service jobs

    LOL:belly laugh:
     
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  12. Buck

    Buck Gold Member Gold Chaser

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    but the illegals can stay




    but for what?

    LOL:belly laugh:
     
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  13. Joe King

    Joe King Gold Member Gold Chaser

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    All they needs to do is to allow for fed taxes to be a deductible on the State tax people pay.

    There. I solved their problem for them.
     
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  14. Krag

    Krag Planet earth Platinum Bling

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    Major corporations like Apple and Microsoft deserve no shielding from reasonable taxation, as well as many of the other huge companies that have gamed the system to the detriment of the common man.

    There is no real trickle down, only occasional luck with those connected to the top few percent, bonuses, more business activity in the luxury items.

    Great Britain was a miracle of business success in the 1700s which was able to tax without impoverishing people generally. They royally screwed up in America, but that is another issue.

    Tax major corporations, those under half to a million in income a year should be getting tax breaks and incentives. Small businesses are the future of a vibrant country.
     
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  15. FunnyMoney

    FunnyMoney Silver Member Silver Miner

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    The tax plan is a joke. So there will be some big companies who bring their money back, instead of parking it with overseas banks controlled by TPTB they'll park it with domestic banks controlled by TPTB.

    This stupid tax plan will be completely offset by the inflationary impacts and once again the middle class worker will be worse off in the long run.
     
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  16. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Tax everybody but me. That's the plan I want.
    I promise it will be great.
     
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  17. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

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  18. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

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    Tax tables published and checks are coming.
    I am getting +- .50 an hour extra on the hip with the new cut.
    +- 1000 a on the year.
    Cannot complain about that.
    Thanks sir Trump.
     
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  19. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Bank Getting $2.7 Billion Tax Cut To Charge Poor Customers $12 A Month For Privilege Of Entrusting It With Their Negligible Money
    By Jon Shazar

    Post a Comment / Jan 23, 2018 at 4:25 PM


    For Brian Moynihan and Bank of America, there is much to celebrate about the Trump tax heist. There’s the $2.7 billion it expects to save on its tax bill. There’s the fact that, unlike some of its peers, the $2.9 billion charge it took last year—and the $292 million it lost on a certain mattress company—didn’t push it into the red for 2017. There are 145,000 happy employees spending a thousand extra dollars right now “in the spirit of shared success,” which will also have the bank’s shareholders splitting the bulk of the tax savings going forward.

    Not participating in the spirit of shared success? That would be BofA’s customers. Specifically, the remaining users of the bank’s eBanking free checking accounts, which in spite of the enormous pile of money being showered over Charlotte and the fact that no one’s been able to open a new one in five years, the bank can apparently no longer afford.

    This month, all remaining eBanking customers with the Charlotte, N.C., lender were switched into accounts that charge a $12 monthly fee unless the customer has a direct deposit of $250 or more or a minimum daily balance of $1,500.

    Given the increased profitability that BofA’s consumer bank has enjoyed through Moynihan’s slashing of available products and branches in the sticks, perhaps it could have allowed the grandfathered-in eBanking customers, many of whom are poor, to keep their free checking, especially since at least some of them live in places that BofA no longer bothers to grace with a branch, which they’re now paying $12 a month for the privilege of using. But BriMo & co. have instead read between the lines of the Robin-Hood-in-reverse tax plan and abided by the spirit that animates it.

    Bank of America: No More Free Checking for Customers With Low Balances [WSJ]

    https://dealbreaker.com/2018/01/ban...of-entrusting-it-with-their-negligible-money/
     
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  20. Alton

    Alton Gold Member Gold Chaser

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    When Killary goes to burn at the stake she needs to be coated with greasy bastages like banksters in order to burn quickly and thoroughly. In fact, it would probably be a smart idea to grind up a dozen or 2 to soak the woodpile before the BIG burn begins.
     
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  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  22. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Pfizer Plans $5 Billion Boost in U.S. Manufacturing From Tax Law Changes
    The drugmaker plans to pay a tax of $15 billion on overseas profits over the next eight years


    By Jonathan D. Rockoff and Imani Moise
    The Wall Street Journal

    Pfizer Inc. PFE -3.13% offered a rosy outlook for the year, outlining the benefits from the new U.S. tax law and casting the Amazon.com Inc. AMZN 1.42% -led partnership to lower health-care costs as positive for the drug industry.

    New York-based Pfizer reported for the fourth quarter a profit of $12.27 billion, or $2.02 a share, up from $775 million, or 13 cents a share, a year earlier. The big gain came largely from a $10.7 billion benefit from the revaluation of deferred tax liabilities.

    Under the new U.S. tax law, the drug company must pay a tax of $15 billion over the next eight years on its overseas earnings. Yet executives described the impact from the tax changes overall as positive, starting with Pfizer’s effective tax rate dropping 6 percentage points to 17%.

    The tax law “helps level the playing field to make U.S. companies more competitive,” Pfizer Chief Executive Ian Read said in a call with analysts and investors.

    As a result of savings from the tax changes, Pfizer made a $200 million contribution to the company’s charitable foundation in the fourth quarter, plans to pay $100 million in bonuses to employees and will make a $500 million contribution to its U.S. pension plan by the end of September.

    The company said it plans to buy back $5 billion in shares this year and invest $5 billion in manufacturing and other capital projects in the U.S. over the next five years.

    Mr. Read reaffirmed Pfizer’s plans to reach a decision on selling or spinning off the consumer-health business this year.

    He said he expects consolidation sometime among the biggest pharmaceutical companies and indicated Pfizer would be involved, though he also touted Pfizer’s pipeline of cancer, immunology and other drugs in development.

    Asked about the new health-care partnership among Amazon, Berkshire Hathaway and JPMorgan , Mr. Read said he viewed the development as “totally positive” for the drug industry because use of innovative medicines helps lower health-care spending overall.

    “Any attempt to lower health-care costs will have to involve” using medicines and making sure patients take their prescriptions, Mr. Read said.

    In an interview, Mr. Read said the $10.7 billion gain in the quarter is a result of Pfizer, unlike other drug companies, designating much of the company’s overseas earnings in previous years as likely to come back to the U.S., a policy that reduced overall earnings in those years.

    “Our previous year earnings would have been higher if we didn’t designate these tax liabilities,” Chief Financial Officer Frank D’Amelio said.

    In the fourth quarter, Pfizer reported that revenue edged up 0.6% to $13.7 billion, as growth in key products like breast-cancer drug Ibrance, bloodthinner Eliquis and arthritis treatment Xeljanz offset sales lost from generic competition for stalwarts such as Viagra male-impotence pills.

    The company also provided an upbeat outlook for 2018, forecasting adjusted earnings of $2.90 to $3.00 a share on up to $55.5 billion in sales.

    Write to Jonathan D. Rockoff at Jonathan.Rockoff@wsj.com and Imani Moise at imani.moise@wsj.com

    https://www.wsj.com/articles/pfizer...manufacturing-from-tax-law-changes-1517319342
     
  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Republicans and Democrats do battle over ‘crumbs’ for working Americans in tax legislation

    [​IMG]
    The Washington Post
    Karen Tumulty
    11 hrs ago


    Here's a word that Republicans are going to make sure that working-class America hears a lot between now and the November elections: crumbs.

    It is the scornful description that House Democratic leader Nancy Pelosi (Calif.) used last month, when she summed up the new tax law passed by Republicans as consisting of "the bonus that corporate America received, versus the crumbs that they are giving to workers."

    Her comment was already making its way into Republican talking points and ads. One launched this week by the American Action Network, a well-financed outside group aligned with House Speaker Paul D. Ryan (R-Wis.), showed Pelosi's face projected onto buildings along the skyline of San Francisco, a city that the right considers the temple of out-of-touch liberalism.

    On Thursday, President Trump went all in, comparing it to a memorable gaffe in 2016 by Democratic nominee Hillary Clinton, when she said that half of Trump's supporters belonged in a "basket of deplorables."

    "Does that make sense — deplorable and crumbs?" Trump asked during his speech to a congressional Republican retreat in West Virginia. "Those two words, they seem to have a resemblance. I hope it has the same meaning. But she called it 'crumbs,' when people are getting $2,000 and $3,000 and $1,000. That's not crumbs — that's a lot of money."

    In fact, Pelosi's comment was taken out of context and did not refer to the overall effects of the new tax law. When she said it at a Jan. 11 news conference, it was as an answer to a reporter's question about a recent spate of announcements that corporations have made attributing employee bonuses and wage increases to the new law.

    Following Trump's riff, Pelosi spokesman Drew Hammill retorted: "What's deplorable is Republicans' desperate effort to hide the multibillion-dollar corporate windfalls of the GOP tax scam behind a handful of meager, one-time bonuses. The casual dishonesty of taking Leader Pelosi's words out of context is nothing compared to the dishonesty of Republicans' sales pitch on their tax scam itself."

    The changes that Republicans made to the tax code tilt heavily in favor of the rich and vary widely according to individual circumstances and geography.

    But this year, 80 percent of households will get some kind of tax reduction, with the average receiving around $1,600, according to an analysis by the nonpartisan Tax Policy Center.

    That may not be a life-changing sum, but most Americans could easily imagine what they might do with it — put some money away for a child's college tuition, perhaps, or fix the annoying engine noise of a car they cannot afford to replace.

    While the tax law was broadly unpopular when it took effect, recent surveys suggest voters may be warming up to it as they begin to see the changes in their paychecks.

    Most dramatic was a Monmouth University poll released Wednesday, which showed that support had risen to 44 percent — up from just 26 percent in mid-December, when lawmakers were getting ready to pass it. It was the first major poll to show the legislation had just as many supporters as critics.

    More worrisome a sign for Democrats in a year when they have high hopes of retaking the House is another number in the Monmouth poll: the generic question of whether voters would prefer a Democrat or a Republican to represent them.

    The survey showed that Democrats now hold an edge of just two percentage points — down from a 15-point advantage just a month ago.

    "The generic congressional ballot is prone to bouncing around for a bit until the campaign really gets underway later this year. But Democrats who counted on riding public hostility toward the tax bill to retake the House may have to rethink that strategy," said Patrick Murray, director of the Monmouth University Polling Institute.

    Meanwhile, the larger imperative for Republicans in months ahead is to closely tie the tax law — their one major legislative achievement — to the good feelings that Americans now have about the economy.

    Nearly 6 in 10 Americans say the economy is "good" or "excellent," according to a recent Washington Post-ABC poll, the highest figure in 17 years. But half say the Obama administration deserves significant credit for the economy, while fewer than 4 in 10 say the Trump administration does.

    Pelosi has long been a foil for Republican candidates and a villain in their attack ads. Moreover, she has a penchant for saying things that can be easily taken out of context and that come back to haunt her party, such as her remark in the run-up to the passage of the Affordable Care Act that "we have to pass the bill so that you can find out what's in it."

    Even many Democrats cringed privately at her "crumbs" comment, which they worry distracts from their larger argument over the fairness of GOP economic policies. And of course, any metaphor that involves baked goods easily lends itself to the Marie Antoinette caricature that Republicans have drawn of Pelosi.

    "It sounds like something a wealthy woman from San Francisco would say," said Republican pollster Whit Ayres.

    "Her 'crumbs' comment is something we think we can use pretty effectively," added Rep. Steve Stivers (R-Ohio), who is chairman of the National Republican Congressional Committee.

    For her part, Pelosi has seemed to be trying to adjust her language. At a Post Live event on Monday, for instance, she referred to the "goodies" in the tax law.

    Asked whether she was backing off her "crumbs" comment, however, the Democratic leader said: "Crumbs, goodies — either one. Because it's not a question of $1,000; it's a question of the billions of dollars, the banquet that they have put for the top 1 percent.

    "Now, I don't begrudge anybody their success, their wealth, their achievement. God bless you for that," Pelosi added. "This is unconscionable that we would have 83 percent of the benefits going to the top 1 percent."

    http://www.msn.com/en-us/news/polit...x-legislation/ar-BBIAhyx?li=BBnb7Kz&ocid=iehp
     
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    House To Vote Tuesday On Bill To Avert Shutdown - But There's A Catch
    [​IMG]
    by Tyler Durden
    Tue, 02/06/2018 - 08:03


    A meeting last night among House Republicans must've born fruit, because the caucus announced late last night that they would hold a vote late Tuesday on a bill to keep the federal government open through March 23. The vote would avert the second government shutdown this year.

    The measure would fund most government agencies and contain a year of defense funding as well as two years of funding for community health centers, the Republican representatives told reporters. But without a concurrent deal on immigration that includes enshrining DACA protections in law, it's difficult to say whether the bill will muster the votes to clear the Senate, where it would require 60 votes to circumvent a Democratic filibuster, per Reuters.

    As CNN explains, the full-year defense-spending plan - a long-sought objective of Mark Meadows and the rest of the House Freedom Caucus - is being added to the plan to give GOP leaders a chance to muscle the bill across the finish line with Republican-only votes - a necessity for defense hawks who have grown increasingly uneasy about the Pentagon relying on short-term resolutions.

    "We have to break this logjam some way," said Rep. Greg Walden, the Oregon Republican who chairs the House Energy and Commerce Committee, of the fifth short-term funding measure.

    Freedom Caucus Chairman Mark Meadows said he supports this strategy, and several GOP lawmakers said they expect it to pass the House with zero Democratic votes.

    The bill also includes two years of funding for community health centers, a bipartisan priority.

    But the same sources who told CNN they expect the bill to pass the House also noted that it probably has no chance in the Senate. One thing it would accomplish, however, is help House conservatives pressure their Senate counterparts to act on the defense funding.

    "It's the only way we can get to 218 votes when the Democrats won't give any votes" on the continuing resolutions, said Michigan Republican Rep. Rep Bill Huizenga.

    Asked by CNN what happens when the Senate strips out the defense spending, Huizenga said "we'll cross that bridge when we get to it."

    In a statement that, perhaps inadvertently, sums up the state of negotiations between Republicans and Democrats since September, when the first continuing-resolution battles began percolating, Missouri Senator Roy Blunt said the two sides are "close" to finally resolving a host of issues from immigration, to disaster relief, to lifting spending caps that would open the door to a long term spending bill.

    "We have the same level of high optimism on that we've had since October," said Missouri Republican Sen. Roy Blunt, a member of the GOP leadership team, with a grin. "Which is everybody's almost in agreement, and that's the story that does not appear to change, nor does it appear to come to conclusion."

    Worst case, senators said Monday, the chamber will strip the defense funding from the House bill and move a short-term bill that includes a handful of other priorities.

    "I would expect it would not include defense," Blunt said. "I think it may include a few other things. Maybe community health centers, maybe some sort of disaster - I think there's a series of a half a dozen things, any combination of which might go on and I expect at least one or two of them would."

    According to CNN, one member of the GOP Senate leadership said that, if they can secure a deal on raising the spending caps, it would open the door to include a provision to raise the debt ceiling in the spending bill.

    "There's a chance," Texas Republican Sen. John Cornyn, the second-ranked Republican in the Senate, told reporters of the possible inclusion of a debt-limit increase in the short-term funding bill. "If we can get an agreement on caps, there's all sorts of good things that are gonna happen, including that."

    Of course, negotiations on spending caps, immigration, disaster-relief, Obamacare and many other legislative priorities have been "close to a deal" for about four months now.

    Let's see if this time, lawmakers actually deliver.

    https://www.zerohedge.com/news/2018-02-06/house-vote-tuesday-bill-avert-shutdown-theres-catch
     
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    High school secretary 'really surprised' House Speaker Paul Ryan used her $1.50 a week pay rise as a positive tax overhaul example
    • Pennsylvania secretary Julia Ketchum said she was shocked House Speaker Paul Ryan chose to use her $1.50 per week pay increase as an example
    • Ryan came under fire after tweeting her payrise as an example of someone benefiting from the Republican tax overhaul
    • Republican congressman later deleted the tweet after facing backlash
    • Ketchum said others got hundreds more and was surprised she was highlighted


    Read more: http://www.dailymail.co.uk/news/article-5360925/Secretary-surprised-Paul-Ryan-highlighted-1-50-raise.html#ixzz56QfVyFqb
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  28. edsl48

    edsl48 Silver Member Silver Miner

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    Weekly withholding rates are not indicative of the total annual tax bill. Once again reality is overshadowed by hype when it comes to taxes
     
  29. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Federal funding down to the wire AGAIN as Senate considers catch-all measure to keep the government open and Trump breaks with Republicans saying 'Let's have a shutdown!'
    • Trump leveled the threat during a roundtable at the White House as he revisited his immigration reform demands
    • 'We'll do a shutdown and it's worth it for our country. I'd love to see a shutdown if we don't get this stuff taken care of,' Trump said on Tuesday
    • The president's spokeswoman, Sarah Huckabee Sanders, said Trump is 'not advocating' for a shutdown at a press conference immediately after
    • The House passed a six-week stopgap measure on Tuesday that fully funds the military for an entire year, fulfilling a budgetary request of the president's
    • Senators have other designs for bill that would keep the government running beyond the Thursday deadline until March 23
    • They're considering a $100 billion rider for disaster relief and debt ceiling hike that will get legislators past that hump until after the November elections.


    Read more: http://www.dailymail.co.uk/news/article-5362881/Federal-funding-wire-again.html#ixzz56RJ5nZ68
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  30. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

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    Go Trump

    Instead of cowering the corner (the old Reoublican SOP)

    Trump gets Schmuckie blamed for the shutdown

    Emboldened, now he goes on offense, inferring give me what I want or we'll shut it idown and you'll be blamed
     
  31. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Big budget deal in Senate hailed as 'genuine breakthrough'

    [​IMG]
    Associated Press
    ANDREW TAYLOR , Associated Press
    9 mins ago


    WASHINGTON (AP) — Senate leaders announced Wednesday they have sealed agreement on a two-year budget pact that would shower the Pentagon and domestic programs with almost $300 billion above existing limits, giving wins to both GOP defense hawks and Democrats seeking billions for infrastructure projects and combatting opioid abuse.

    The agreement is likely to be added to a stopgap spending bill that passed the House on Tuesday, aimed at averting a government shutdown Thursday at midnight. Democratic leader Chuck Schumer of New York called the Senate agreement "a genuine breakthrough."

    The White House announced its support despite huge increases for domestic programs sought by President Donald Trump's Democratic rivals.

    "This bill achieves our top priority, a much needed increase in funding for our national defense," said White House Press Secretary Sarah Huckabee Sanders. "The bottom line is that thanks to President Trump we can now have the strongest military we have ever had."

    However, it would not resolve the plight of immigrant "Dreamers" who face deportation after being brought to the U.S. illegally as children. As the Senate leaders were announcing their agreement, Minority Leader Nancy Pelosi of California was holding the floor in the House, declaring she would oppose the measure unless her chamber's GOP leaders promised a vote on legislation to protect the younger immigrants.

    That introduced doubts as to whether the plan could pass in House, where prominent GOP conservatives are also opposed to the higher spending.

    The Senate agreement also contains almost $90 billion in overdue disaster aid for hurricane-slammed Texas, Florida and Puerto Rico. That would bring the total appropriated for disaster aid in the wake of last year's disastrous hurricane season to almost $140 billion.

    The agreement would increase the government's borrowing cap to prevent a first-ever default on U.S. obligations that looms in just a few weeks. The debt limit would be suspended through March of 2019, Sanders said, putting the next vote on it safely past this year's midterm elections.

    Senate Majority Leader Mitch McConnell, R-Ky., leaves the chamber after announcing an agreement in the Senate on a two-year, almost $400 billion budget deal that would provide Pentagon and domestic programs with huge spending increases, at the Capitol in Washington, Wednesday, Feb. 7, 2018.

    The House Tuesday passed legislation to keep the government running through March 23, marrying the stopgap spending measure with a $659 billion Pentagon spending plan, but the Senate plan would rewrite that measure.

    Senate Democratic leaders have dropped their strategy of using the funding fight to extract concessions on immigration, specifically on seeking extended protections for the "Dreamer" immigrants. Instead, Senate Minority Leader Schumer, D-N.Y., went with a deal that would reap tens of billions of dollars for other priorities while hoping to solve the immigration impasse later.

    The budget agreement would give both the Pentagon and domestic agencies relief from a budget freeze that lawmakers say threatens military readiness and training as well as domestic priorities such as combating opioid abuse and repairing the troubled health care system for veterans.

    The core of the agreement would shatter tight "caps" on defense and domestic programs funded by Congress each year. They are a hangover from a failed 2011 budget agreement and have led to military readiness problems and caused hardship at domestic agencies such as the Environmental Protection Agency and the IRS.

    The agreement would give the Pentagon an $80 billion increase for the current budget year for core defense programs, a 14 percent increase over current limits that exceeds Trump's budget request by $26 billion. Nondefense programs would receive about $60 billion over current levels. Those figures would be slightly increased for the 2019 budget year beginning Oct. 1.

    "For the first time in years, our armed forces will have more of the resources they need to keep America safe," said Majority Leader Mitch McConnell, R-Ky. "It will help us serve the veterans who have bravely served us. And it will ensure funding for important efforts such as disaster relief, infrastructure, and building on our work to fight opioid abuse and drug addiction."

    Trump's budget last year proposed a $54 billion increase for defense, proposing to slash nondefense accounts by the same amount.

    Pelosi took to the House floor for more than three hours, and said she would oppose that almost-completed budget pact even though it would boost funding for many domestic priorities favored by Democrats. She declared the agreement "does not have my support, nor does it have the support of a large number of members of our caucus."

    Pelosi said the House should debate immigration legislation and noted that Senate Republicans have slated a debate on the politically freighted subject starting next week. At issue is legislation to address the dilemma of immigrants left vulnerable by Trump's move to end former President Barack Obama's Deferred Action for Childhood Arrivals program, or DACA.

    "Let Congress work its will," Pelosi said. "What are you afraid of?"

    Rep. Nanette Barragan, D-Calif., a member of the Congressional Hispanic Caucus, said the Latino community thinks Senate Democratic leaders have "turned their back."

    But other Democrats said their party in the House may simply not have the leverage to force a DACA solution on conservative Republicans controlling that chamber.

    "DACA's important and it ought to get done. But what's the path?" said Rep. Adam Smith, D-Wash.

    Schumer said the plan would contain $20 billion dedicated to infrastructure such as highways and bridge construction and repair, water and wastewater projects, and rural broadband.

    There's also $4 billion for construction for veterans hospitals and clinics, $6 billion to fight the opioid crisis and fund mental health programs, and $4 billion for college aid.

    Schumer also touted the creation of a special committee that would try to solve a looming shortfall in union pension plans sought by Democrats from Ohio, Wisconsin, West Virginia, and other states.

    http://www.msn.com/en-us/news/polit...-breakthrough/ar-BBINrQX?li=BBnb7Kz&ocid=iehp
     
  32. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Thread reminds me of a tune. Enjoy..........

     
  33. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

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    How hard can it be to decide how much more of our money they're going to tax and spend
     
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    DEBATE: Billions for military, bragging rights for Trump
    RT America



    Published on Feb 7, 2018
    The Senate came to a budget agreement on Wednesday to avoid a second government shutdown. The deal increases domestic spending by $135 billion and military spending by $165 billion, but doesn’t include a plan to resolve the Deferred Action for Childhood Arrivals (DACA) issue. Democratic commentator Marianne Williamson and Chris Neiweem, Republican strategist, join “News with Ed” to discuss the Democrats’ best course going forward.
     
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Pelosi sets record with EIGHT-HOUR marathon DACA speech, surpassing 1919 monologue
    • House minority leader Nancy Pelosi delivered a long speech in support of giving protections to DACA recipients
    • She started Wednesday morning, on a day Senate leaders reached a bipartisan budget deal
    • The deal made no mention of DACA or a border wall
    • She is demanding assurances from Speaker Ryan that a DACA fix will come up for a vote
    • Democrats linked support for a previous short-term spending deal to addressing DACA before the three-day government shutdown
    • Senate Republican leader Mitch McConnell has promised to bring up immigration


    Read more: http://www.dailymail.co.uk/news/article-5365067/Pelosi-sets-record-8-hour-marathon-DACA-speech.html#ixzz56TNJDj8r
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  38. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Appetite for destruction! Government shuts down until early morning budget vote with weary lawmakers ordering in PIZZA to see them through the night
    • The federal government shut down at midnight after Rand Paul blocked vote
    • Congressional leaders have agreed in principle to a two-year budget deal
    • GOP Senator Paul opposes the bill's massive $400billion increase in spending
    • Paul blocked vote on the demand leaders open debate on amendments to the bill
    • Senate voted 71-28 to approve the spending bill a little after 1am on Friday
    • Passage in the House and the president's signature is expected before dawn
    • Comes weeks after a weekend shutdown on Democrat immigration concerns


    Read more: http://www.dailymail.co.uk/news/article-5368279/Senate-leaders-budget-deal-faces-opposition-parties.html#ixzz56bd4mpAk
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    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Open for business! The House votes to reopen the Federal Government after surprise hours-long shutdown sparked by Rand Paul's anger at $400bn spending increase
    • The federal government shut down at midnight after Rand Paul blocked vote on spending bill
    • It is set to reopen this morning after the Senate and House approved the bill despite Paul's objections
    • GOP Senator Paul opposes the bill's massive $400billion increase in spending
    • Paul blocked vote on the demand leaders open debate on amendments to the bill
    • Senate voted 71-28 to approve the spending bill a little after 1am on Friday
    • Passage in the House and the president's signature is expected before dawn
    • Comes weeks after a weekend shutdown on Democrat immigration concerns


    Read more: http://www.dailymail.co.uk/news/article-5368279/Senate-leaders-budget-deal-faces-opposition-parties.html#ixzz56c6QvkW5
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