4 Burst results for "House Ways And Means Committee"
"house ways means committee" Discussed on Bloomberg Radio New York
"From across the aisle with New York Democrat Kirsten gillibrand partnering with the Wyoming lawmaker to finish and introduce the bill in the coming weeks The bill will cover a range of issues including banking taxes privacy and consumer protection and Thailand's biggest bank by market value has become the latest lenders seeking to capitalize on the metaverse craze SCB ten X will become the first banking group entity globally to develop a headquarters in the sandbox of blockchain based virtual platform and that's your Bloomberg crypto update I'm Jeff Bellinger Karen All right Jeff thank you and that's a Bloomberg business flash Tom and Paul Karen thanks so much Karen Great to have you back Thanks Three or four weeks It takes these long breaks and who knows where she goes Tucker was shadow Oh I know Yeah Don't like a day This felt like a day Karen thank you so much best day to checks Literally without exaggeration in the world Post training in time keen Right now Chris cassani joins us MAI capital Chris yield up price down bear market and bonds What do equity do What the equities do when a given index is down 8% in a bond world Oh I'm sorry Yeah we've got to I'm sorry Let me bring in Emily because I thought we had we do But we have Emily Wilkins is on She was talking taxes I think mister Biden is talking about taxing the billionaires Emily a 20% tax on billionaires It sounds good to me I'm not in that camp but it sounds like a revenue source to me What's the story Yeah it is going to be a new source 360 billion billion is the amount that the government expects to get in revenue If this goes into effect And this is part of the larger budget proposal that The White House is putting out today Obviously Congress that the one thing they got to do every year is past money to fund the government and that all begins when The White House sends their proposal to Congress Now usually Congress takes a look at this proposal and goes okay well that's very nice mister president and then goes off and does their own thing But it's a good way to sort of get a sense of where The White House stands and what the administration is thinking And what president Joe Biden is thinking right now is that he needs to start appealing to more moderate Democrats You're seeing a very fiscally conservative budget for democratic president the request is going to show a 1 trillion reduction in deficit spending over the coming decade It's going to go down 1.3 trillion from this year alone and a key part of this is this so called billionaire minimum income tax The only reason I introduced Christopher sante instead of Emily Wilkins is I finally discovered someone with a bracket worse than mine exactly Emily good morning I'm so sorry to not introduce you in the proper Bloomberg surveillance way The quiet word here Emily will be W wealth tax is that what they're talking about a wealth tax Well I mean the poll tested number that they ran past everyone to make sure it would be popular as though is the billionaire minimum income tax But yes I mean this is a tax that is aimed at the wealthy And this is actually something if you think about it that a lot of Democrats do have buy in and support We've seen pretty good polling among the American public saying that wealthy need to pay their fair share and perhaps even more important than that You've seen senator Joe Manchin come out Are we going to tax unrealized gains Cut to the chase I mean not that I have any but yes the idea is to tax both the income and unrealized capital gains of U.S. households worth more than a 100 million as part of this proposal that's going to be put out there So that's the Supreme Court Is that seriously They got to pass it If they pass it does it go through a judicial process We're going to tax unrealized gains That is what they're saying at this point I mean and let's be clear there are skeptics to this idea The powerful head of the House ways means committee chairman Richard Neal a Democrat that he says that you know he's proposed this income check Shirt surcharge He's a little skeptical about this idea that's been put out right now So we'll even see I mean this might not go any further than the Biden administration coming out and proposing it Congress might take one look at this and say thanks but no thanks or decide to go in a different route But it shows really the end of the day President Biden wants to continue to try and figure out a way to tax the wealthy and he's now looking at other options to do it then that social tax and spending bill the build back better which at this point the future is very uncertain on That's kind of where I wanted to go Emily what can this president this administration get done in Congress as it relates to domestic policy here I mean obviously everybody's been focused on Ukraine and Russia but in terms of domestic policy what can this president get done Well that's a really great question I mean at this point we keep hearing that there are these potential efforts to move certain aspects.
"house ways means committee" Discussed on The Editors
"Please consider giving us a glowing review on itunes. If you don't like what you ear here please forget. I said anything. So jim garrity. The house ways means committee released their version of the tax increases. That are supposed to pay for or at least partially offset. Joe biden's massive spending plans. We got an increase the individual tax rate. Backup the thirty nine point six percent. They wanna take the corporate rate to twenty six point. Five from i think twenty one and increase the cap gains rate and then a bunch of other dogs breakfast. Various other revenue raisers. Would he make a bit rich. I have a challenge for our listeners. On this week's podcast. I think i'd like everyone to go to the local supermarket. And after you'd under grocery shopping a separate trip just go and see people is coming out and ask them. Hey groceries there. do you pay more for that. Gross those groceries this week and you did say six months ago or year ago or two years ago and my guest is a whole bunch of people will say yes and make cases. They'll say paying a lot more. I'm paying one hundred bucks more a week or something. People really feel this and say. Don't worry the government's gonna raise taxes. See how they react. See if that makes them feel better see if it makes them feel reassured. See if that makes them feel good about this. I think someone could argue. This is the very predictable consequence of electing a democratic president and a marginally democratic senate and a democratic house of representatives. Think one the other things that is striking you the most at this moment. And you can see this in the or you can hear this tone of voice week by week of this. Podcast about are terrible situation in afghanistan. Talk about more about that later. We have Mentioned the you know. A lot of people feeling inflation. I know which folks say. no no. it's not really long term inflation. It's not a real worry This is mostly supply chain issues. They keep having ports in china that is totally controlling corona virus that the keeps shutting down the ports. Everybody keeps trying to parallel park. Oil tankers in the suez canal for some reason. Don't worry this is all supply chain issue. It'll work itself out. It's not really bad inflation. But i could feel it. Ask people people talking about it and casual conversations and not necessarily bringing it up because they want to talk about politics. We still have the situation on the border. That hasn't been fixed. We have roughly a million people come across the border. You caught attempting to come across the border in. We have real problems as a country. We have real pressing. Oh by the way the virus that president biden said he was gonna shut. Down has not been shut down. What is the what is it. What are democrats in congress want to do. What does this mystery show. They really wanna spend a lot of money. That is their purpose in life. That is their their. Mo this highest priority. This is the holy grail. This is what they want to do with their lives. Get the federal government that or he spends an enormous amount of money to spend even more money. This is this old. They yearn for out of life and in the end. We are terribly terribly misserved by our leaders who basically spending more as the measurement of their success in government suggests you mentioned mentioned china supposedly having the virus under control. So do you assume they're totally lying. Because it's just. It's just bizarre that you know here. We are eighteen months into this thing still struggling with it. We're highly advanced society with the an incredible credible medical system. We got the effective vaccines earlier than anyone else. And we're still struggling with it. Once supposedly china basically has no cases at all. Yeah i can tell you with one. Hundred percents certainty. The official statistics are wrong. I can't tell you with any certainty. How wrong they are. But if you look at their official numbers for the first couple of months. Basically kirk goes up like occurred. Kinda like you'd expect levels off a little bit than someone pointed out that they The numbers just seem unbelievably an implausibly. Low then rich one day. The number of cases jumped by fifty percent exactly fifty percent. It's kind of amazing. Just yards a phenomenal coincidence. That the and then since then it has been an exactly horizontal very few cases. Very few deaths. I think they've they claim they've had four cove. Nineteen deaths in the last eight or nine months or something like that. So i think it's extremely likely they have cases and the international media's ability to cover what is going on in china has gotten tougher over the past year as china has expelled use journalists. I don't think they are in a situation. Like india was or like brazil a couple months ago but yet they've got more cases and deaths in there and just not saying because it's too important to their self image To be honest about this they have to weather. Because in there to believe that you'd have to believe that delta was just cutting through india like it's the rebirth and yet did not touch china in any way shape or form. Yeah suzanne back on the taxes so the overall price tag for the house. Version of tax increases is two point two trillion which is a huge over ten years which is a huge tax increase. But it's a step down from what biden wanted. The biden wants a corporate tax at a twenty eight percent. As i mentioned. This is twenty six point. Five biden wants the capital gains rate at thirty nine percent the six significantly lower than that he wanted to hit people passing on their wealth to their errors and a and a huge way that that house declined to do. But it just shows that biden campaigned is on this old school pragmatist and moderate. And here he is. He's more radical than the house of representatives. Nancy plc's tax writing committee. I think for whatever reason we've really witnessed over the last couple years Joe biden's campaign and then his presidency. It's become evidence that he's a lot more afraid of the left. The far left side of his party than he is of moderate. And maybe that's the right tactic if you're him there obviously a lot more vicious. Maybe there won't be any repercussions from moderate voters. Democrats who aren't quite as far left On taxes and spending as he is an sm of the progressive in his party are But to my mind. I don't think that biden has particularly strong priorities on anything. I think he's really just a vessel of whatever he thinks the loudest faction of his party is going to demand right now at night. I wouldn't be surprised if the plan they put out was a lot higher than anything they thought they could get solely because they wanted to be able to point to it and say look. We're progressive. I the president's in line the white house in line with everything that You know The left star left members party and we want to do all the spending knowing that they were never going to get it knowing that even the majority of democrats in the house never went to start out that high knowing that nothing like that most likely is going to get through the senate with a few moderates in the middle. They're saying they want lower spending than what the far left democrats want up abiding can point to it and say well we tried. Look this is what i wanted. And i'm compromising unity so we'll just go down to whatever whatever the most democrats agree to you and try to push that through But i think is just more evidence that he sees the party going too far left direction and he doesn't want to be left behind so try to make a big deal of supposedly holding people making under four hundred thousand dollars harmless but the corporate taxes and they love raising corporate taxes. Obviously i think the politics is good. And unfortunately they're right are passed along to consumers and employees and at the end of the day have a a reduce tamp down wages and they they would take if find got his number twenty eight percent and you add on the various state corporate taxes. We will be back where we were. Prior to the trump perform with the highest corporate tax rate in the world just which makes no sense at any level. Why would we want that. Why do we need that. While i will make our country less competitive and at least at the margins make it more alluring for companies to headquarters their operations overseas in a better tax environment. I find a whole thing. Baffling i have a philosophical objection to high taxes partly because i have an philosophical objection to high-spending and to.
"house ways means committee" Discussed on 600 WREC
"Called me, Dr Alabama 2594 to 1976 94 to 1970. Six. To a NewsRadio one. Oh 55 wrc huge spending bill being taken up by the house later in the week more on this in just a minute. Right now, Traffic and weather together. Captain Carl is here. An update in trust Bill 59 Southbound Still a bit slow round chock full mountain road with that crashed just before I 4 59 been pulled out of the way. Also dealing with a little bit of slow traffic. 59 South Beach around First Avenue, heading in through downtowns, Emerging delays there as well. Still some heaviest traffic 65 North US Highway 1 19. Up through the Hoover area. Also high weight to 80 slow starting back around highway 1 19 crowded is a lot of folks are heading up toward the Red Mount Expressway Traffic updates every 10 minutes all morning long your next report at 8 40 on NewsRadio one Oh 55 w E. R C Looks like we'll have a pretty decent day today. Partly cloudy 30% chance for pop up shower here and there 88 will be the high right now We've got some clouds in 76 Alabama's morning news. Local firefighters been injured on the job. Angie Normal's got more in a couple of minutes. But first Fox News covers the world Fox News. I'm Chris Foster the Democrats between a half trillion dollar bill. Expanding the social safety net with programs like paid leave for all workers and more health care is being taken up tomorrow and Friday by the House ways. Means committee, West Virginia Senate Democrat Joe Manchin says it's too much money, but President Biden says at the end has always been there. He's always been with me. I think we can work something out and.
U.S., Canada and Mexico sign agreement - again
"You house Democrats are eager to show progress on something other than the impeachment inquiry just an hour after unveiling the formal charges against the president house speaker Nancy Pelosi announced a deal he said Democrats had reached an agreement with the White House on an updated trade pact with Mexico and Canada this is the day we've all been working to and working for on the path to yes that yes on a new nafta marks a rare moment of bipartisanship in a deeply divided capital as NPR's Scott Horsley reports for the trump administration getting Mexico and Canada to sign a new trade deal was hard enough winning support from house Democrats may have been even tougher house speaker Pelosi says her party went along only after the new nafta was modified to include enforceable protections for workers and the environment there's no question of course at this table image is much better than nafta it is infinitely better than what was initially of proposed by the administration Democrats also insisted on stripping out of the trade deal certain patent protections which they called a giveaway to big pharmaceutical companies house ways means committee chairman Richard Neal says there were a lot of hard fought negotiations with the White House I think we set a world record for hanging up on each other myself in the trade rep but at the same time we also knew that this was an opportunity that we couldn't let get away from us Neil says the talks came to a head this past weekend the Massachusetts lawmaker was watching the New England Patriots quarterback Tom Brady when he was interrupted by a phone call all of a sudden I looked at my phone and said hello see for caller ID long wisdom tells me hello Brady take the call as final details were ironed out Neil was also in regular contact with AFL-CIO president Richard Trumka who checked in from a hunting trip Trumka endorsed the agreement after promise of factory inspections if necessary to verify compliance in Mexico his union backing is an important green light for congressman Neal and his fellow Democrats but this is more than a triumph for organized labor it's a triumph for workers everywhere across America it's also the first major trade agreement for the president who spent much of the last three years disrupting international trade at a signing ceremony in Mexico City this afternoon US trade representative Robert light Heiser hailed the agreement as a win for all three countries and if something is going to base North America Richard is going to make America rich rich could make Canada richer and it's going to make Mexico richer the new agreement which trump calls the U. S. M. C. A. provides important updates for things like digital commerce that barely existed when after the fact a quarter century ago it also requires car companies use more north American parts if they want to sell cars here duty free and includes a sixteen dollar an hour minimum wage for some auto production that could shift some manufacturing from Mexico to the US and Canada on the whole though the U. S. M. C. A. is more of an update to nafta than a wholesale replacement it's estimated increase GDP by only about one third of one percent Christian G. check of the center for automotive research has what the deal does do is avoid the hit to the economy that would have happened to trump made good on his threat to scrap nafta with nothing to take its place it means an end to uncertainty around what the future trading rules will be in North America the agreement also gives house Democrats an accomplishment they can point to other than the impeachment inquiry that's especially important to moderate lawmakers from swing states like Cindy actually allow farmers in her state depend on a continued flow of north American free trade I'm very happy to see where we're at with this and