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The Coming Fiscal Derailment – Stockman Explains Why FY 2019 Will Sink The Casino

Authored by David Stockman via Contra Corner blog, Since last November 8th the Russell 2000 has risen by 30% and the net Federal debt has expanded by an astounding $1.0 trillion dollars. In a rational world operating with honest financial markets those two results would not be found in even remotely the same zip code; and especially not in month #102 of […]


The Full List Of Every Senator Who Stands To Be Personally Enriched By The Tax Bill

Submitted by David Sirota of International Business Times When the U.S. Senate takes up the final tax bill this week, more than a quarter of all GOP senators will be voting on a bill that includes a special provision that could give them a new tax cut through their real estate shell companies, according to […]


The Full List Of Every GOP Senator Who Stands To Be Personally Enriched By The Tax Bill

Submitted by David Sirota of International Business Times When the U.S. Senate takes up the final tax bill this week, more than a quarter of all GOP senators will be voting on a bill that includes a special provision that could give them a new tax cut through their real estate shell companies, according to […]


Republican Tax Plan Is Headed For Final Round Of Votes

Barring some unforeseen catastrophe (or another floor-vote surprise akin to Sen. John McCain’s last minute decision to strike down the Senate’s plan to repeal and replace Obamacare), Congressional Republicans appear all but certain to pass the reconciled version of President Donald Trump’s tax-cut plan – the first time Congress has successfully passed comprehensive tax reform […]


Susan Collins Says She’s A ‘Yes’ On Tax Reform, Assuring Vote Passage

In an announcement that effectively clears the way for the GOP's Congressional leadership to send the Republican tax-reform plan to President Donald Trump's desk, Maine moderate Susan Collins said Monday afternoon that she intends to vote for the bill. As Republicans try to pass their No. 1 legislative priorty by week's end, a new controversy […]


Why Bob Corker Flipped To A ‘Yes’ On Tax Reform In One Simple Chart

Authored by Mike Shedlock via www.themaven.net/mishtalk, Senator Bob Corker, the lone Republican voting against the tax bill suddenly changed his mind. Why? On December 1 Senator Corker made this statement: "But at the end of the day, I am not able to cast aside my fiscal concerns and vote for legislation that I believe, based […]


“This Is A Historic Event”: GOP Leaders Say Tax Reform Will Pass By Week’s End

After weeks of frenzied closed-door haggling, Republicans appear to be on the cusp of what could be the greatest legislative achievement of the Trump administration: Passing the first comprehensive tax reform plan since 1986. And on Sunday, Republican leaders reiterated that they had cobbled together the votes to push the reconciled version of the GOP […]


McCain To Miss Critical Tax Vote, Returning To Arizona After Chemo Treatment

The mystery whether John McCain will be present during next week’s historic tax bill vote is over: according to CBS, the Arizona Senator will not be on hand for the final vote on the Republican tax bill, expected early this week, and instead is returning to Arizona after spending several days in a Maryland hospital […]


“Suspense Mounts” – Timing Of Tax-Reform Votes In Limbo As More Senators Get Cold Feet

With Bloomberg writing this morning that "Mystery, Suspense Mount" two days after President Donald Trump told the American public that Congress was “just days away” on tax reform, two more senators  – including one-time Trump rival – Marco Rubio appear to be getting cold feet – much to the market’s chagrin. Yesterday afternoon, stocks dropped […]


This Bill In Congress Could Means 10s Of 1000s More Americans Banned From Buying Guns

Authored by Michael Snyder via The American Dream blog, When news that a “concealed-carry reciprocity law” had been passed by the U.S. House of Representatives, gun owners all over the nation rejoiced.  But what most people didn’t realize is that there had been a last minute change to the bill that could substantially increase the […]


Republicans Reach Tentative Tax Agreement: Raise Corporate Tax To 21%, Cut Individual Tax To 37%

One month ago, we speculated that in order to pass the GOP tax plan, Congress would end up having to raise the proposed corporate tax rate from 20% to 25%, because as it stands now, there is simply not enough sources of funding. In the end corp tax will be agreed upon at 25% starting […]


Stocks Pop After Cornyn Suggests Tax Bill Deal “Possible” Today

Despite numerous headlines indicating a tax bill deal early next week, Republican Senator John Cornyn just told media that there "may be a tentative tax bill deal today." Algos liked the news and immediately bid stocks higher (despite no knowledge of what is in the 'deal'). “It’s possible,” John Cornyn, the No. 2 Senate Republican, tells […]


Government Shutdown Looms Amid Clash Over “Dreamers” Fate

In an announcement that will provide some measure of relief for T-bill traders and others who are skeptical about Republican lawmakers' ability to compromise with their Democratic colleagues, the Republican House leadership said Tuesday they would bring a stopgap bill to extend funding at its current levels – and preserve funding for a popular child […]


Susan Collins Will Vote For Senate Tax Reform Plan

Update: In a statement, Susan Collins declared her intention to vote for the Senate GOP tax plan, saying the GOP leadership's decisions to preserve state and local tax deductions up to $10,000 and to expand the child tax credit helped win her support. "I will cast my vote in support of the Senate tax reform […]


Republican Leaders Say GOP Has The Votes To Pass Tax Plan

Update: Two of the last remaining holdouts have confirmed that they will vote for tax reform. Arizona Sen. Jeff Flake says he now supports the bill. Susan Collins said a deal had been reached to include her unspecified property tax deduction amendment in the bill, and she has tentatively said she'll vote yes. It looks […]