Jon Greenberg, staff writer for Politifact, breaks down some of the rhetoric from the left and the right around the GOP tax reform bill.
Chris Ruddy of Newsmax claimed that the GOP bill would bring in $3 trillion of offshore funds back into the economy from large U.S. corporations receiving a tax cut overseas. But just how true is this? Politifact has rated the statement half true. Greenberg notes that while corporations are receiving a reduction in overseas taxes, 45% of the $3 trillion made overseas is already in the U.S.
Greenberg also weighs in on House Minority Leader Nancy Pelosi's statement that the GOP bill would "sabotage" the healthcare of 13 million Americans. Greenberg details just what happens when the individual mandate is repealed. He explains that the repeal of the individual mandate will cause healthy people to leave the marketplace, which will cause costs to go up for those that are sick. That means some of those people won't be able to afford health insurance anymore. Politifact's overall rating of Pelosi's statement: half true.
With a government shutdown five days away, Congress is moving into crisis mode as Speaker Kevin McCarthy faces an insurgency from hard-right Republicans eager to slash spending even if it means curtailing federal services for millions of Americans.
Rep. Andy Kim of New Jersey announced on Saturday that he will run against Sen. Robert Menendez in the state’s Democratic primary for Senate next year, saying he feels compelled to run against the three-term senator after he and his wife were indicted on sweeping corruption charges.
