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In Major Victory For Trump, Senate Passes “Sweeping” Tax Bill Which Nobody Read: Here’s What’s In It

Shortly before 2am on Saturday, the Senate passed “the most sweeping rewrite of the U.S. tax code in three decades, slashing the corporate tax rate and providing temporary tax-rate cuts for most Americans” handing Republicans a badly needed legislative and political victory. Senators voted across party lines in a 51-49 vote, ending days of debate […]


Senate Bill Nearly Killed By Deficit Hawks: Will Include $350 Billion In New Tax Hikes

Following a report from the Joint Committee on Taxation, which unveiled late on Thursday afternoon that the Senate Tax bill would generate enough economic growth to lower its $1.4 trillion revenue cost by only about $458 billion over a decade – in other words it would still boost the deficit by roughly $1 trillion – […]


“A Potential Nightmare Scenario For The GOP”: Tax Vote Delayed To Friday; May Include $350BN In New Tax Hikes

Update: The Senate tax plan roll vall vote which was widely expected to take place on Thursday evening, has been pushed back to 11am on Friday following the collapse of the “Trigger” compromise (discussed below) to win a majority for a Senate tax overhaul left Republicans scrambling to salvage the legislation, Bloomberg reports. While debate […]


David Stockman Slams The GOP Tax Bill: “Fuggedaboutit!!”

Authored by David Stockman via Contra Corner blog, The GOP has become so politically desperate that they might as well enact a two-word statute and be done with it. It would simply read: Tax Bill! Actually, that's not far from where they are in the great scheme of things. The Senate Finance Committee's bill is a dog's breakfast […]


Senate Begins “Marking Up” Tax Reform Plan As Post-Thanksgiving Vote Looms

The House is expected to vote on and, hopefully, pass its tax reform package on Thursday, but the Senate’s plan still hasn’t made it out of committee. Luckily for the Trump administration – which badly needs this legislative victory to stave off a donor mutiny –  this could soon change: To wit, the Finance Committee […]


This Isn’t A Joke! The IRS Just Hired Equifax To Safeguard Taxpayer Data

Just hours after Equifax CEO Rick Smith wrapped up his testimony before the House Energy and Commerce committee – the first in a series of Congressional “fact-finding missions” about the hack – Politico reported that the IRS last week awarded the disgraced credit monitoring bureau with a $7.25 no-bid contract even as the company struggled […]


Meet The Six Republican Senators Who Could Kill Trump’s Tax-Reform Bill

The nine-page dax document unveiled by the Trump administration this week included may of the proposals we expected to hear: streamlining the tax code for individuals into three (or possibly four) brackets, eliminating state and local deductions, repealing of the estate tax, major reductions on corporate rates and incentives for American companies to repatriate billions […]


A Frustrated Bank Of America Asks “What Could Go Wrong?”: Here Is Its Answer

For the past 3 months, Bank of America strategist David Woo has been warning that the market is precariously unbalanced, and as a result the smallest shift away from being “priced to perfection”, or spike in volatility, could lead to a waterfall event. As we first reported back in July, Woo first warned that between […]


“Somebody Goes To Jail” – Senator Says Equifax Execs Should Face Criminal Investigation

Little more than a day after Equifax disclosed that hackers had infiltrated its cybersecurity systems and “compromised” the personal data of 143 million Americans, the company was hit with its first class-action lawsuit, which alleged that the company could’ve prevented the breach if hadn’t instead opted for negligent cost-cutting. That suit, seeking $70 billion, was […]