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 U.S. and the Iraqi military say a Katyusha rocket has struck an Iraqi military base hosting U.S. troops at Baghdad’s international airport, and in Syria, eight rounds of indirect fire hit a base where members of the U.S.-led coalition are deployed.
A record 4.5 million American workers quit their jobs in November, a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year’s coronavirus recession.
American activists are appealing to Tesla Inc. to close a new showroom in China’s northwestern region of Xinjiang, where officials are accused of abuses against mostly Muslim ethnic minorities.
AT&T and Verizon said Monday they will delay activating new 5G wireless service for two weeks following a request by Transportation Secretary Pete Buttigieg, who cited the airline industry’s concern that the service could interfere with systems on planes.
New Year's Eve, Colorado Fires & Free Money
Cheddar looked back at Year Two of the pandemic to provide a breakdown of the biggest trends impacting money and what they could mean for 2022.
Carlo and Baker cover the news on the Ghislaine Maxwell verdict, the ongoing COVID-19 closures, and the decade-long divorce proceeding of Schwarzenegger and Shriver.
Presidents Joe Biden and Vladimir Putin spoke by phone on Thursday about the Russian troop buildup near Ukraine.
After the tremendous progress cannabis reform made during the 2020 election, 2021 had a lot to live up to — and it did.
Conservation experts in Virginia’s capital pulled books, money, ammunition, documents and other artifacts Tuesday from a long-sought-after time capsule found in the remnants of a pedestal that once held a statue of Confederate Gen. Robert E. Lee.
