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 applying for unemployment benefits fell sharply last week to 576,000, a hopeful sign that layoffs are easing as the economy recovers from the pandemic recession.
Senator Elizabeth Warren (D-Mass.) joined Cheddar to discuss the growing calls from some Democrats to have President Biden eliminate up to $50,000 in student loan debt per borrower.
President Joe Biden says he will withdraw the remaining U.S. troops from Afghanistan and end America's longest war.
Rep. Eric Swalwell (D-Calif. 15th District)
Officer Kim Potter and Police Chief Tim Gannon both resigned two days after the death of 20-year-old Daunte Wright in Brooklyn Center.
Japan’s government has decided to start releasing treated radioactive water from the wrecked Fukushima nuclear plant into the Pacific Ocean in two years.
President Joe Biden and congressional leaders will pay their respects to Evans, who was struck by a car and killed while he manned a barricade near the Senate side of the building.
The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year.
Will Smith and director Antoine Fuqua have pulled production of their runaway slave drama “Emancipation” from Georgia over the state’s recently enacted law restricting voting access.
The chairman of the Federal Reserve says the U.S. economy is poised for an extended period of strong growth and hiring even though the coronavirus still poses some risk.
Load More