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 seeking unemployment benefits rose last week to 770,000, a sign that layoffs remain high even as much of the U.S. economy is steadily recovering from the coronavirus recession.
Federal Reserve Chairman Jerome Powell once again doubled down on the easy money policies that have defined the central bank's response to the pandemic-fueled economic downturn.
Stop AAPI Hate co-founder Cynthia Choi joined Cheddar to discuss anti-Asian hate crime reporting and what Americans can do to combat incidents of racial discrimination against Asian and Pacific Islander Americans.
With COVID cases rising in many places, governments are facing the dilemma to push on with a vaccine that is known to save lives or suspend use of AstraZeneca over reports of dangerous blood clots in a few recipients.
The police break up of a weekend vigil for a young murder victim abducted in London has touched off a national debate in Britain.
As a worldwide semiconductor shortage hammers American industries, trade groups are reaching out to the Biden administration with pleas to boost production in the U.S.
Microsoft President Brad Smith will testify before a House Judiciary subcommittee on Friday.
The Vatican has decreed that the Catholic Church won't bless same-sex unions, saying that God “cannot bless sin.”
More than a dozen congressional Democrats from New York, as well as both senators, put out statements in what appeared to be a coordinated release Friday morning, calling on the state’s governor, Andrew Cuomo, to resign.
What is up next for the Biden administration now that it has clocked its first major legislative win? This is your Washington Week Ahead.
