Kremlin-backed broadcaster launches French language news channel in wary Paris

PARIS (Reuters) - The Kremlin-funded Russian broadcaster RT was due to launch its French language news channel on Monday night amid heavy suspicion by the government and President Emmanuel Macron who has dubbed it “an organ of propaganda”. Macron has led official criticism of RT, formerly known as “Russia Today”, and openly accused it of sowing disinformation about him via its website and social media during the presidential election earlier this year which he won. RT has denied the allegations and RT France’s chief executive Xenia Fedorova, speaking at the channel’s new offices in a western Paris suburb, again brushed off criticism, saying that RT stood for news “not covered by mainstream media”. The channel was being cold-shouldered by Macron and the channel had still not been granted accreditation to cover news conferences inside the French presidential Elysee palace, Fedorova said on Monday a few hours before the channel was due to start broadcasting.
https://www.reuters.com/article/us-fran ... SKBN1EC2D3

U.S. vetoes U.N. call for withdrawal of Trump Jerusalem decision

UNITED NATIONS (Reuters) - The United States was further isolated on Monday over President Donald Trump’s decision to recognize Jerusalem as Israel’s capital when it blocked a United Nations Security Council call for the declaration to be withdrawn. The remaining 14 council members voted in favor of the Egyptian-drafted resolution, which did not specifically mention the United States or Trump but which expressed “deep regret at recent decisions concerning the status of Jerusalem.” “What we witnessed here in the Security Council is an insult. It won’t be forgotten,” U.S. Ambassador to the United Nations Nikki Haley said after the vote, adding that it was the first veto cast by the United States in more than six years.
https://www.reuters.com/article/us-usa- ... SKBN1EC25N
Erdogan defies Trump, says Turkey has own embassy plans for Jerusalem

(CNN)Turkey's President Recep Tayyip Erdogan said he hopes one day to open a Turkish embassy in Jerusalem, ahead of a possible UN vote Monday which seeks to nullify the US decision to recognize the city as Israel's capital. "Because Jerusalem is under occupation, what we could not do was open our embassy there. But even now our consulate there is being represented by an ambassador"," Erdogan said in a speech Sunday to members of his AK Party in Karaman, southern Turkey. "God willing, the day is near, that our embassy will officially be opened there". Erdogan's speech came after an emergency meeting of the 57-member Organization of Islamic Cooperation last week recognized East Jerusalem as the occupied capital of a Palestinian state. The decision came in response to US President Donald Trump's promise to move Washington's embassy from Tel Aviv to Jerusalem, and recognize the city as Israel's capital. If, as expected, the resolution is vetoed by the US at the Security Council, Erdogan, echoed by Palestinian leaders, said he would pursue a similar resolution in the United Nations General Assembly, where a simple majority would allow a non-binding resolution to pass.
http://www.cnn.com/2017/12/18/middleeas ... index.html

Muslim leaders call for recognition of East Jerusalem as Palestinian capital

Istanbul, Turkey (CNN)Leaders from the 57-member Organisation of Islamic Cooperation recognized East Jerusalem as the occupied capital of a Palestinian state and called on the international community to do the same, according to the final communique from the group's emergency summit on Wednesday.

The group of mostly Muslim leaders had called an extraordinary meeting in Istanbul to discuss US President Donald Trump's controversial recognition of Jerusalem as Israel's capital last week. Trump also announced that the US Embassy would be relocated from Tel Aviv to the holy city. On Wednesday the OIC rejected Trump's move as "null and void" and said the President's "dangerous declaration" marked the US withdrawal from the Israeli-Palestinian peace process. urkish President Recep Tayyip Erdogan declared that a "new alliance" had been formed in opposition to Trump's Jerusalem declaration, which he described as "not valid in our understanding, in our mentality and in our conscience." Erdogan said the US "can no longer act impartially" as a mediator between the Israelis and Palestinians, and that other countries needed to be identified to replace the US in that role. "We are determined to protect and preserve the historical status and sanctity of Jerusalem," Erdogan said in a speech to close the meeting.
http://www.cnn.com/2017/12/13/middleeas ... index.html
Iran Tells France's Macron Not to 'Blindly Follow" Trump

LONDON — Iran on Sunday criticized French President Emmanuel Macron over his tough stance toward Tehran and said Paris would soon lose its international credibility if it "blindly follows" U.S. President Donald Trump. Tensions between Iran and France have risen in recent months after Macron said Tehran should be less aggressive in the Middle East, citing in particular its involvement in Syria's civil war. Macron, unlike Trump, has reaffirmed his country's commitment to the deal Iran signed in 2015 with world powers under which it curbed its disputed nuclear program in exchange for the lifting of most international sanctions. However, he has been critical of Iran's ballistic missile tests and wants to raise the possibility of new sanctions over the program, which Tehran calls solely defensive in nature. "To sustain its international credibility, France should not blindly follow the Americans... The French president is now acting as Trump's lapdog," Ali Akbar Velayati, the top adviser to Iranian Supreme Leader Ayatollah Ali Khamenei, was quoted as saying by the semi-official Fars news agency.
https://www.voanews.com/a/iran-france-u ... 67320.html

AP: US Soldier Fought to End After Ambush in Niger

WASHINGTON — Army Sgt. La David T. Johnson died in a hail of gunfire, hit as many as 18 times as he took cover in thick brush, fighting to the end after fleeing militants who had just killed three comrades in an October ambush in Niger, The Associated Press has learned. A military investigation has concluded that Johnson wasn't captured alive or killed at close range, dispelling a swirl of rumors about how he died. The report has determined that Johnson, 25, of Miami Gardens, Florida, was killed by enemy rifle and machine gun fire from members of an Islamic State offshoot, according to U.S. officials familiar with the findings. The Oct. 4 ambush took place about 120 miles (200 kilometers) north of Niamey, the African nation's capital. Johnson's body was recovered two days later. U.S. officials familiar with the findings spoke to the AP on condition of anonymity to describe details of an investigation that has not been finalized or publicly released. A 12-member Army special forces unit was accompanying 30 Nigerien forces when they were attacked in a densely wooded area by as many as 50 militants traveling by vehicle and carrying small arms and rocket-propelled grenade launchers. [ I guess we'll never find out why the Chad military wasn't present ]
https://www.voanews.com/a/details-emerg ... 68155.html
The Real Reason Trump Was Silent On Niger Ambush

President Donald J. Trump took 12 entire days before publicly speaking out about the deadliest combat incident since he became Commander and Chief. Why? The answer has everything to do with “BLAME” and “POLICY”. Four brave young soldiers, Staff Sgt. Dustin Wright, Staff Sgt. Bryan Black, Staff Sgt. Jeremiah Johnson and Sgt. La David Johnson, were in Niger when terrorist forces fatally ambushed them. This all started back in September when the Trump administration without explanation decided to add the country of Chad to the President’s travel ban. This move was met with criticism from both sides of the political aisle but eventually was drowned out by the chaotic media frenzy that frequently accompanies Trump and his antics.

Chad has been a longtime strategic partner with American and French forces in the region collectively battling jihadist. The executive order was a shock to the leaders of Chad who had been protecting region allies through combat operations, ground mobility and intelligence. Chad is an anti-jihadist nation but was placed on this travel ban inexplicably. Their neighbors, Nigeria, Niger, and Mali were not. None of this made sense to the Chad military, diplomats or citizens. Needless to say, when Trump did not correct this disastrous executive order, Chad officials were highly offended. Statements from the Chad government spoke directly to how Trump undermined the relationship between the two countries. Barely a week after Trump announced the final version of the travel ban, the Chadian government immediately began removing troops from Niger. Hundreds of soldiers with superior knowledge of the region, combat training and common goals to combat terrorism were gone. Leaving our limited American forces to fend for themselves covering a region roughly the size of Texas.

Due to Chad removing themselves from the combat zone, these courageous American soldiers became outmanned and outgunned in enemy territory. Additional US troops were not deployed to make up the man power deficit. Chad made a clear statement; they were not going to continue having their soldiers fight alongside American troops while Trump pushed divisive policies against them. Virtually just days after Chad forces left, American soldiers were ambushed by terrorist fighters. These extremists were well aware of the logistical situation on the ground and took full advantage of it. Resulting in the death of four valiant soldiers. It’s clear this tragedy could have been avoided with thoughtful policies and an inclusive approach to international conflict.

After 12 days and amidst media pressure, Trump finally spoke about the tragedy publicly. He knew his careless executive order created a chain of events that ultimately led to the death of Staff Sgt. Dustin Wright, Staff Sgt. Bryan Black, Staff Sgt. Jeremiah Johnson and Sgt. La David Johnson. Simply put, Trump wanted to avoid blame. His policy created the circumstances that led to the death of these soldiers. This was one of the most avoidable combat tragedies in recent history. Trump attempted to distract the American public with tweets, sensational comments and taunts. Even his fellow Republican, Senator John McCain went on record and said he believed the Trump administration wasn’t being forthcoming about the death of these men. Now we know why.

-Dr. Rashad Richey

[ Is Niger Trump's Benghazi as quite a few headlines suggest thus the silence from the WH ? ]

http://atlanta.cbslocal.com/2017/10/21/ ... er-ambush/

<

MONEY

[ TIME TO ADMIT THAT TRUMP AND THE GOP ARE CROOKS AND JUST PLAIN EVIL ]

People Are Outraged About the GOP Tax Bill's 'Corker Kickback.' This Is Why!

Republican Sen. Bob Corker caught many by surprise on Friday when he reversed his earlier position and announced that he would support his party’s controversial tax cut.

Now some critics are calling foul, decrying as a #CorkerKickback some last-minute changes to the bill that could enrich Corker personally.

Corker couldn’t immediately be reached for comment. The Tennessee Senator reportedly told International Business Times, which originally broke the story, that he was unaware of the changes which could benefit him when he switched his position.

[ Reports indicate that Corker consulted his lawyer before casting his "yes" vote ]

Corker, who has made headlines this year for feuding with President Trump, was the only Republican to vote against the president’s signature legislative effort when it passed the Senate several weeks ago. At the time he said its price tag—the bill is expected to add $1 trillion to the deficit—was unacceptable. On Friday, however, he appeared to have a change of heart, saying the bill represented a “once-in-a-lifetime” opportunity for business.

A report by the International Business Times highlighted several last-minute changes to the tax bill that it said would personally benefit Corker and other Republican politicians, including President Trump.

[ trump still claiming he is the biggest loser in this tax cut bill Let's face it. There have been a lot of last-minute changes to the bill that will enrich Trump, Corker, and a bunch of other GOP personalities. ]

Corker’s vote could be critical. With a 52-seat majority and Arizona Sen. John McCain absent this week for medical treatment, Republicans cannot afford to lose more than a couple of votes.

[ Too bad the trump administration won't extend the same courtesy to Doug Jones that the Obama administration extended to Scott Brown by waiting long enough to allow Doug Jones to get sworn in and cast his vote. Jones could be a decisive vote on this tax bill. ]

http://time.com/money/5068840/gop-tax-b ... -kickback/



<

What the CDC's banned words list tells you about Trumpism

(CNN) It's easy -- and obvious -- to focus on the high-profile ways in which Donald Trump is remaking American government and, by extension, American culture: His appointment of Neil Gorsuch to the Supreme Court, his tax cut plan, his tweeting -- to name three.

And, those things clearly matter. Gorsuch will be on the nation's highest court for life. The tax plan, which Republicans are expected to pass through both chambers of Congress this week, will fundamentally alter the nation's tax structure. Trump's tweeting -- and retweeting -- is changing the way in which a president interacts with the country and the words and images he uses to do it.

But, we know about all of those changes because they are right in front of our faces. What we know far less about -- but are no less important in the structural reshaping of the federal bureaucracy and the populace more broadly -- is how Trumpism is being felt in the myriad federal agencies that are simply not on the national radar.

Take, for example, the reporting by the Washington Post over the weekend that the Centers for Disease Control have been warned not to use 7 hot-button words in future budget proposals. The banned words, you ask? "Diversity," "fetus," "transgender," "vulnerable," "entitlement," "science-based" and "evidence-based."

http://www.cnn.com/2017/12/18/politics/ ... index.html

<

Budget

Will tax reform hurt Trump’s military buildup? GOP defense hawks are shrugging it off

SASC’s top Democrat: ‘Where will we get that money?’

WASHINGTON — The White House-backed tax plan is projected to increase the deficit by $1.4 trillion over the next decade, but Senate defense hawks are saying they’re not worried that steeper deficits will squeeze future military spending.

If they are wrong, and tax reform creates higher deficits with less headroom for defense spending, it could raise hurdles for the Trump administration’s ambitious plans for a military buildup to 355 ships, 1,200 Air Force fighter jets and thousands more Marines. Defense Secretary Jim Mattis has said in Capitol Hill testimony that those plans require sustained defense spending growth through 2023.

In a Senate floor speech Wednesday, the Senate Armed Services Committee’s top Democrat, Sen. Jack Reed, slammed the GOP as selling out the military to give a tax cut to the rich. Reed plans to offer a measure to retain the estate tax, which has historically been used to fund wars.

Every additional 10,000 service members costs roughly $1.8 billion per year,” the lawmaker from Rhode Island said. “Where will we get that money when we’re going $1.5 trillion in debt to provide tax cuts for the wealthiest Americans?”

“Anyone who is voting for this bill is essentially saying: ‘You know, I’ll talk a good story about supporting national security, but when it comes down to the money, it’s going to go to the wealthiest Americans,’ ” Reed said.

Three former defense secretaries who served under President Barack Obama — Leon Panetta, Chuck Hagel and Ash Carter — warned in a letter to lawmakers this month that the tax plan will squeeze military funding “for training, maintenance, force structure, flight missions, procurement and other key programs.”

[ The U.S. military is ground-testing the F-35 fighter jet's Gatling gun, another step before the $1 trillion fighter jet project can be fully operational.Source: CNN ] $$$$$$

[ Trump directs NASA to return to the moon before aiming at Mars
‘This time we will not only plant our flag and leave our footprint — we will establish a foundation for an eventual mission to Mars...’ ] $$$$$$

[ Trump: Amtrak derailment shows need for infrastructure plan. “The train accident that just occurred in DuPont, WA shows more than ever why our soon to be submitted infrastructure plan must be approved quickly. While Trump pushed anew for an infrastructure plan on Monday, he has not yet unveiled one. Congress right now is still dealing with a major tax reform package and deliberations over how to keep the government funded after a Dec. 22 deadline. Trump may look to push the infrastructure plan after the tax package is considered. ] $$$$$$

https://www.defensenews.com/congress/bu ... ng-it-off/

<

Merry Christmas, ya' filthy animals!

.

AT&T is giving $1,000 bonuses to 200,000 employees after tax bill

AT&T is paying bonuses of $1,000 to more than 200,000 U.S. employees.
AT&T's CEO said it was in response to tax reform.
The House of Representatives on Wednesday sent tax reform legislation to President Donald Trump, who is expected to sign it soon.
AT&T to invest $1 billion in capital spending following tax reform passage

Anita Balakrishnan | Ari Levy

Published 1 Hour Ago Updated 34 Mins Ago

CNBC.com

AT&T was quick to respond to news of U.S. tax reform, announcing it would give some employees bonuses once the law is official.

The telecom giant said in a press release on Wednesday that it would give more than 200,000 U.S. union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S.

"Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world," CEO Randall Stephenson said in a statement. "This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees."

AT&T had previously said it would invest $1 billion in the U.S. if "competitive" tax reform legislation was passed, and has said that tax reform framework could increase demand for AT&T's services. The new tax laws are expected to drop the corporate tax rate to 21 percent from the current 35 percent and includes other measures that Republicans say will spur businesses to invest domestically.

The House of Representatives on Wednesday sent tax reform legislation to President Donald Trump, who is expected to sign it soon. Trump lauded the bill, calling it "an extraordinary victory for American families, workers, and businesses."

In Wednesday's announcement, AT&T noted its track record of creating U.S. jobs. Earlier this year, thousands of AT&T workers, members of the Communications Workers of America union, went on strike over issues like job security and outsourcing. Many AT&T workers already expected to receive 10 percent raises and $1,000 lump-sum back wages as a result of an agreement announced last week.

AT&T's tax reform announcement comes a month after the Justice Department challenged AT&T's pending merger with Time Warner. Trump has said the deal is "not good for the country" because it might make prices increase.

On the other hand, AT&T stands to be a potential beneficiary of another recent move by the Trump administration: the repeal of net neutrality regulation. The new regulatory landscape will afford AT&T more flexibility to control the pricing and speed of content for their internet customers, although AT&T has said it will not make big changes to the way internet services are delivered.

Stephenson is a longtime Republican donor, contributing to candidates, political action committees and the party for at least the last two decades. In 2016, he donated to candidates including Speaker of the House Paul Ryan and Arizona Senator John McCain. In June of this year, he donated to Trump, presumably for his reelection campaign, and sent almost $34,000 to the Republican National Committee, according to the Center for Responsive Politics.

As of the third quarter, AT&T had spent about $16.5 billion in capital expenditures in 2017.

— CNBC's Sara Salinas and Jacob Pramuk contributed to this report.

If Gary Cohn could change one thing in the tax bill, it would be to have closed the carried interest loophole, he told Mike Allen at an Axios event on Wednesday. Cohn believes it is fundamentally unfair, and adds that President Trump agrees with him. "We probably tried 25 times... The President asked just this past Monday if we could still get rid of it."

As for why the loophole wasn't closed, Cohn was more cagey. He blamed Congress but, when pressed, would only cite unidentified GOP House members from blue states.

https://www.axios.com/cohn-we-probably- ... 77326.html

- Gary David Cohn is an American investment banker who is currently serving as the Director of the National Economic Council and chief economic advisor to President Donald Trump. He was formerly the president and chief operating officer of Goldman Sachs from 2006 to 2017. Cohn is a registered Democrat, but has donated extensively to Republican politicians as well.

Fifth Third Bancorp has also announced they are going to start the starting wage for employees and give bonuses now as well, following passage of bill.

U.S. home sales hit 11-year high, supply still tight

WASHINGTON (Reuters) - U.S. home sales increased more than expected in November, hitting their highest level in nearly 11 years, the latest indication that housing was regaining momentum after almost stalling this year.

The report on Wednesday from the National Association of Realtors also added to data ranging from the labor market to retail sales that have suggested the economy was ending 2017 on a strong note.

https://www.reuters.com/article/us-usa- ... SKBN1EE20H

JUST IN:
Wells Fargo hikes its hourly pay rate to $15 & will aim for $400M in philanthropic donations next year due to the newly-passed GOP tax bill
- CNBC

Two Republicans block Trump’s Ex-Im Bank nominee Scott Garrett

WASHINGTON — Two Republicans on the Senate Banking Committee helped to block President Donald Trump’s nominee to lead the Export-Import Bank in a critical vote Tuesday. Sens. Mike Rounds of South Dakota and Tim Scott of South Carolina joined all Democrats on the committee to oppose Scott Garrett, a critic of the Export-Import Bank who voted twice to eliminate it as a member of Congress.
https://www.nbcnews.com/politics/congre ... tt-n831176
GOP tax plan: Foreigners to gain $48 billion from legislation in 2019

Last Updated Dec 19, 2017 3:15 PM EST: One of the biggest beneficiaries of the tax overhaul bill progressing through Congress might not seem obvious. But foreign investors stand to come out ahead. Although President Donald Trump seeks to tighten immigration standards and get tough on international trade agreements, the tax bill -- which he supports -- treats non-American shareholders in US companies better than most Americans, according to an analysis from the Institute on Taxation and Economic Policy, a nonpartisan think tank. Foreigners will gain $48 billion from the legislation in 2019, the institute calculates, mainly in terms of how their American stock holdings should appreciate, thanks to improved US company earnings fueled, at least in part, by the tax cuts. If you divide the nation's population by income into fifths, known as quintiles, foreigners do better under the plan than everyone but the top 20 percent. The richest quintile is ahead by $225 billion, and the second wealthiest by $43 billion, or less than overseas investors. https://www.cbsnews.com/news/gop-tax-pl ... investors/
Trump Pulling Gorsuch Nomination Over Lack of ‘Loyalty’ Would Have Been Crazier Than Firing Comey

The media loves to highlight all the outrageous things President Trump does, but they focus so little on the crazy things he didn’t do. For instance, no one gave Trump credit for opting not to withdraw his Supreme Court pick’s nomination after the judge mildly criticized his attacks on the judiciary. Had Trump followed his impulses, that easily could have become one of the wildest and most self-defeating moments of his young administration. On Monday night the Washington Post shed light on Trump’s incredible self-restraint, revealing that he talked about rescinding Neil Gorsuch’s nomination because he was angry that the judge privately told senators that he found the president’s bashing of federal judges “disheartening” and “demoralizing.”
http://nymag.com/daily/intelligencer/20 ... comey.html
Trump threatens to cut aid to U.N. members over Jerusalem vote

WASHINGTON/UNITED NATIONS (Reuters) - U.S. President Donald Trump on Wednesday threatened to cut off financial aid to countries that vote in favor of a draft United Nations resolution calling for the United States to withdraw its decision to recognize Jerusalem as Israel’s capital. “They take hundreds of millions of dollars and even billions of dollars, and then they vote against us. Well, we’re watching those votes. Let them vote against us. We’ll save a lot. We don’t care,” Trump told reporters at the White House. The 193-member U.N. General Assembly will hold a rare emergency special session on Thursday - at the request of Arab and Muslim countries - to vote on a draft resolution, which was vetoed by the United States on Monday in the 15-member U.N. Security Council. The remaining 14 Security Council members voted in favor of the Egyptian-drafted resolution, which did not specifically mention the United States or Trump but which expressed “deep regret at recent decisions concerning the status of Jerusalem.”
https://www.reuters.com/article/us-trum ... SKBN1EE2A3
In Georgia, battle of the 'Staceys' tests Democrats' future

In Georgia, battle of the 'Staceys' tests Democrats' future

ATLANTA (Reuters) - The two Democratic candidates running for governor in Georgia are both lawyers and former state legislators. Both are women, and on many policy issues it’s hard to tell them apart. Both even share the same first name - Stacey. But they sharply disagree on the path to victory. Stacey Abrams, 44, wants to become the first African American female governor in the United States by mobilizing solidly Democratic black voters, who vote sporadically in elections, to form a winning coalition with white liberals. Stacey Evans, 39, thinks the math does not add up without also appealing to white moderates, many of them outside urban areas, who voted for President Donald Trump last November. She is highlighting her crossover appeal as a white suburban mother with country roots. Their divergent strategies mirror a wider debate within the Democratic Party that has grown louder after strong turnout by minority voters helped to power recent Democratic victories in Alabama and Virginia.
https://www.reuters.com/article/us-usa- ... SKBN1EE18S
Cuba boosts trade ties with Cold War ally Russia as U.S. disengages

HAVANA (Reuters) - Boxy Russian-built Lada automobiles still rattle around Cuba, growing more decrepit by the year, a reminder of vanished Soviet patronage for the Communist-led island. But next month, more than 300 shiny new Ladas are slated to roll onto Havana’s potholed streets, the first in more than a decade. Their manufacturer Avtovaz, Russia’s biggest carmaker, says it hopes to ramp up exports, thanks to financing from Russian government development bank VEB. Flush with state funding, Avtovaz and other Russian companies are once again increasing sales to the Caribbean isle. It is part of a broader move by Moscow to renew commercial, military and political ties just as the U.S. government is retreating from Cuba under Republican President Donald Trump. Russian exports to Cuba jumped 81 percent on the year to $225 million in the January-September period, official Russian data shows. That is just a quarter of the exports of Cuba’s chief merchandise trading partner, China, but growing fast.
https://www.reuters.com/article/us-cuba ... SKBN1ED0FI
Democrat wins by one vote in Virginia legislative election recount

(Reuters) - Virginia Democrat Shelly Simonds won a seat in the House of Delegates by one vote, changing the power balance in the state legislature and extending a tide of Democratic victories beginning with November’s capture of the governorship and several legislative seats. Simonds beat incumbent David Yancey in a recount held Tuesday, both parties said in statements released after the unofficial vote recount was completed by officials in Newport News. “Never, ever forget how very much your vote counts,” House of Delegates member David Toscano said on Twitter, one of many Democrats rejoicing that a single vote handed them the seat. Simonds’ election, which still must be affirmed by a panel of three judges, means that the 100-member House of Delegates will have an equal number of Democrats and Republicans. That could lead to more moderate policies by forcing the parties to share power. Before the Nov. 7 general election, Republicans held 66 seats to Democrats’ 34, along with a majority in the state senate, according to the election information website Ballotpedia. The GOP still holds a slim margin in the senate.
https://www.reuters.com/article/us-usa- ... SKBN1ED2XQ
White House, GOP celebrate passing sweeping tax bill

Washington (CNN)Republican lawmakers joined President Donald Trump on Wednesday afternoon to celebrate their largest legislative achievement of 2017, in a public ceremony spotlighting the most sweeping overhaul of the US tax system in more than 30 years. "It's always a lot of fun when you win," Trump said at the ceremony on the White House lawn, after thanking congressional leaders including Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan.
http://www.cnn.com/2017/12/20/politics/ ... index.html
Some of Wall Street's largest banks stand to win big from the tax bill now hurtling its way towards the president's desk — but among them, Wells Fargo will make out the best.

The bill, which could be enacted within days, will give the country's seven largest banks — not including Goldman itself — an average 14% increase in earnings, Goldman found. That's because of the plan's big cut in the corporate tax rate -- from 35% to 21%. Wells Fargo (WFCPRJ) would make out the best, with an 18% boost, in large part because it derives nearly all of its profits from the United States, Goldman said. The company declined to comment for this story. What will financial institutions do with all that new found cash? Many banks have signaled their intention to return more money to shareholders. At an investor presentation earlier this month, when asked about how regulatory rollbacks might impact those plans, Wells Fargo CEO Tim Sloan said higher returns for investors were in the cards. "Is it our goal to increase return to our shareholders and do we have an excess amount of capital? The answer to both is, yes," Sloan said. "So our expectation should be that we will continue to increase our dividend and our share buybacks next year and the year after that and the year after that."
http://money.cnn.com/2017/12/18/news/ec ... tml?iid=EL
Will companies spend tax savings to create jobs?

by Matt Egan @MattEganCNN
December 19, 2017: 1:59 PM ET

CEOs may like the idea of a big tax cut for businesses, but that doesn't mean they'll use the savings to create American jobs. Just 14% of CEOs surveyed by Yale University said their companies plan to make large, immediate capital investments in the United States if the tax overhaul passes. Capital investments, like building plants and upgrading equipment, can lead to hiring. Only a slim majority of the CEOs, 55%, said the Republican tax package should be signed into law. The Yale CEO Summit surveyed 110 prominent business leaders of Fortune 500 and Fortune 50 companies last week. The findings, along with other surveys, suggest that the tax plan may not have the dramatic impact on jobs that President Trump and Republicans in Congress have promised. Trump tweeted over the weekend that "TAX CUTS" will lead to "higher growth, higher wages, and more JOBS!" The GOP tax overhaul would slash the corporate tax rate from 35% to 21% and offer incentives for companies to bring foreign profits back home. Jeffrey Sonnenfeld, who leads the Yale CEO Summit, said in an interview that it's "astounding" how few companies plan to reinvest their tax savings. He called the idea of a jobs boom from the tax plan "a lot of smoke and mirrors," especially because the unemployment rate is just 4.1% and companies already have plenty of cash to make investments. Wall Street expects companies will use a big chunk of the tax savings to reward shareholders with fatter dividends and stock buybacks, which makes stocks more attractive. That's one reason stocks have surged all year, putting the Dow in sight of 25,000.

And at The Wall Street Journal's CEO Council in November, only a few business leaders raised their hands when they were asked whether the tax plan would lead them to increase investment in the United States. Gary Cohn, Trump's top economic adviser, was surprised. "Why aren't the other hands up?" he asked from on stage.

http://money.cnn.com/2017/12/19/investi ... index.html

Comcast is joining AT&T in giving 1,000 bonuses to non-executive employees. Over 100,000 of them.

A lot of people seeing immediate dividends from this great tax reform. Many more will be seeing it this coming year in the pay checks.

A lot of nonsense coming from democrats and their propaganda arm in the main stream media.

The real headline today is not one single democrat voted for a bill that will cut taxes for 80% of Americans, make our corporate tax rate much more globally competitive, and will grow our economy.

Yes, by all means, hang that around our neck. That is a debate I look forward in midterms and 2020.

I am loving the rhetoric coming from the left right now. Conservatives are robbing the treasury. Imagine, they think it is theft to allow us to keep more of our money.

Pinko commies think the tax rate should be 100% and anything less than that that we get to keep is out of sheer generosity.

Oh, and my gracious, the debt! Where were all these chicken littles last 8 years while Obama was racking up bigger debts than ever before. Suddenly they're Hawks.

Now to get spending under control. I guess from what they're saying they will be willing to help.

Millions of Children Could Lose Health Coverage Starting Next Month

Lawmakers have yet to renew federal funding for the Children’s Health Insurance Program, also known as CHIP, which insures nearly nine million children in low-income families. Most states will run out of money in the next few months if Congress does not act. 4.9 million children get coverage from CHIP in the 16 states that run out of money by the end of January. 5.6 million children get coverage from CHIP in the 24 states that run out of money by the end of February. 7.7 million children get coverage from CHIP in the 36 states and D.C. that run out of money by the end of March. 8.4 million children get coverage from CHIP in the 46 states and D.C. that run out of money by the end of the summer. Federal funding expired on Sept. 30, and Congress has not been able to agree on how to pay for the program, which has historically had strong bipartisan support.
https://www.nytimes.com/interactive/201 ... -CHIP.html
The GOP’s Tax Bill Kicks Puerto Rico When It’s Down

The island is getting slapped with new taxes as it drowns in debt and tries to recover from a catastrophic hurricane.

WASHINGTON ― The hits just keep coming for Puerto Rico.

As the U.S. island struggles to climb out of a $70 billion debt crisis and recover from the devastation of Hurricane Maria, House Republicans voted Wednesday to impose a 12.5 percent tax on intellectual property income made by U.S. companies operating on the island and a minimum 10 percent tax on their profits in Puerto Rico. The Senate passed the bill earlier in the day.

That means that businesses with operations in Puerto Rico will pay higher taxes than their counterparts on the U.S. mainland, which puts industries and jobs on the island at risk.

The provision, tucked into the GOP’s tax reform bill, was intended to stop American companies from dodging federal taxes by shifting their profits overseas. But because the U.S. tax code treats Puerto Rico as a foreign territory, business operations on the island will get hit.

Puerto Rico leaders had urged Republican lawmakers to exempt the island from the provision given its fragile economy. Three months after the hurricane hit, more than 1 million Americans there still don’t have power, more than 250,000 Americans don’t have clean water, and more than 1,000 Americans have died amid the insufficient federal response.

Rep. Nydia Velázquez (D-N.Y.), who is Puerto Rican and who opposed the tax bill along with all other House Democrats, warned her GOP colleagues that the provision will visit another type of storm on the island: an “economic hurricane.”

“Puerto Rico is in the grip of a humanitarian crisis,” she fumed on the House floor. “Let’s be clear: Puerto Ricans are American citizens. They fight in our wars, many of them laying down their lives for our freedoms. Yet this bill continues treating Puerto Rico differently than the rest of the United States.”

Velázquez was particularly critical of Speaker Paul Ryan (R-Wis.) and House Majority Leader Kevin McCarthy (R-Calif.), both of whom visited Puerto Rico after the hurricane hit and vowed to help the island recover.

“They looked the people of Puerto Rico in the eye and made promises to help them,” she said. “This is how you help Puerto Rico?”

Aides to Ryan and McCarthy did not respond to requests for comment.[/b]

Puerto Rico Gov. Ricardo Rosselló has said the tax provision would be “a huge blow” that would negatively affect 50 percent of the island’s gross national product, 30 percent of the government’s revenue and more than 250,000 jobs.

Nonetheless, House Republicans voted overwhelmingly for the tax bill, including every GOP lawmaker from Florida. Every Republican senator voted for it too, including Sen. Marco Rubio (R-Fla.). Rosselló warned Monday that those lawmakers will pay at the polls in 2018 for hurting Puerto Rico in its time of need.

“We will analyze those who turned their back on Puerto Rico, who passed a bill that goes against the spirit of the law,” he told the Miami Herald.

House Republicans originally passed the bill Tuesday, but had to vote on it again Wednesday after the Senate parliamentarian announced that it violated three Senate rules and couldn’t pass the upper chamber without fixes. Oops.

[ Latest estimates: 100% power restoration won't happen until at least mid summer ]

https://www.huffingtonpost.com/entry/pu ... 1621b042f8
No tax cuts for Christmas? Trump might delay bill signing

WASHINGTON — Celebrations aside, President Trump may wait until next year to sign the tax bill into law, delaying $120 billion in automatic cuts to popular programs such as Medicare and sparing Republicans from having to explain them in an election year.

Here's why: If Trump signs the tax bill this month, it could trigger steep automatic spending cuts early next year to a raft of programs. But if Trump waits until January to sign the bill, the spending cuts would be delayed until 2019 — after next year's congressional elections — giving lawmakers a full year to prevent them.

OOOPS !

[ Scary to think about what else was missed in the rush ]
https://www.cbsnews.com/news/no-tax-cut ... l-signing/
Winner: Tax accountants

Trump has often invoked tax accountants when pitching the tax bill to the American public.

Promising a tax code that “simple and easy to understand” at a rally earlier this year, Trump said: “Sorry. H&R Block will not be supporting Donald Trump, I can tell you,” insinuating that the new simplified tax code would put tax accountants like H&R Block out of work. H&R Block’s stock dropped this fall, some of which was associated with the anticipation of a Republican tax reform bill.

But tax accountants can rest assured: They will still have jobs.

Republicans passed a tax bill that does very little to actually simplify the tax code. Despite early efforts from the House, which passed a version of the tax bill that condensed the current seven tax brackets to four and cut many of the deductions — like those for teachers’ supplies and high medical expenses — the final draft of the tax bill does no such thing.

As Jim Tankersley wrote for the New York Times, this tax bill “creates as many new preferences for special interests as it gets rid of”:

It will keep corporate accountants busy for years to come. And no taxpayer will ever see the postcard-size tax return that President Trump laid a kiss on in November as Republican leaders launched their tax overhaul effort.
https://www.vox.com/2017/12/20/16790040 ... ll-winners