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 number of Americans collecting unemployment benefits slid last week, another sign that the job market continues to recover rapidly from the coronavirus recession.
Fed-watchers had their ears peeled after Wednesday's meeting of the Federal Reserve's Open Market Committee for any signal of when the central bank might start tapering its $120 billion in monthly assets purchases.
President Joe Biden and a bipartisan group of senators have reached a deal over major outstanding issues in a $1 trillion infrastructure bill.
man accused of killing eight people, most of them women of Asian descent, at massage businesses in Georgia pleaded guilty to four of the murders.
The Centers for Disease Control and Prevention is reversing course on some masking guidelines. The agency announced new recommendations Tuesday that even vaccinated people should return to wearing masks indoors in parts of the U.S.
Four officers who defended the Capitol during the Jan. 6 insurrection are giving emotional and angry accounts of the attack.
Vaccine Mandates, Osaka Out & LeVar Burton Takes Jeopardy!
New York City will require all municipal workers to get coronavirus vaccines by mid-September or face weekly COVID-19 testing.
President Joe Biden and Iraqi Prime Minister Mustafa al-Kadhimi are set to announce that they’ve come to an agreement to end the U.S. military’s combat mission in Iraq by the end of the year.
Team USA's Uneven Start, Optimism Plummets & 'Old' Stuns Box Office
Load More