Sen. John McCain said this morning that he would vote in favor of the Republican tax bill. Grover Norquist is the founder and president of Americans for Tax Reform to explain why he's optimistic the bill will pass.
Norquist, who has been bullish on the bill all along, says the fact that McCain's made his announcement now, not later, means "we will have a signed bill for Christmas." He also points out how well the stock market has reacted to McCain's announcement.
Norquist also says that Americans shouldn't be concerned about the rapid passage of the legislation because "the Senate has had 70 hearings on this bill alone." During the vote, in fact, The anti-tax crusader thinks we may see a handful of Democrats who decide to associate themselves with the bill.
Senators Bob Corker (R-TN) and James Lankford (R-OK) want to add a trigger to the bill that would repeal certain tax cuts if growth is weaker than expected. Norquist says the danger of adding a trigger is, "it tells people, please invest $100, million in a new factory. And look at our shiny new tax code. Maybe. Sort of. It might change."
The vote is expected Thursday night or early Friday morning.
For full interview [click here](https://cheddar.com/videos/are-middle-class-americans-benefiting-from-president-trumps-tax-plan).
The World Economic Forum on Wednesday released its annual Global Risks Report, which found that global leaders are more concerned about the cost of living than climate change.
A bill that would try to abolish the Internal Revenue Service (IRS) and eliminate federal income tax was reintroduced on Tuesday by Georgia Republican Rep. Buddy Carter.
The Justice Department is reviewing a batch of potentially classified documents found in the Washington office space of President Joe Biden’s former institute.
The House passed the chamber's rules package with all but one Republican vote while all GOP members voted for its first bill, which would strip funding from the IRS.
At the top of Kevin McCarthy’s to-do list as he begins his role as House Speaker is adopting a new rules package for the chamber when it convenes Monday evening.
Brazilian authorities were vowing to protect democracy and preparing to mete out punishment Monday after thousands of ex-President Jair Bolsonaro’s supporters stormed Congress, the Supreme Court and presidential palace then trashed the nation’s highest seats of power.
