The House of Representatives is expected to re-vote on the Republican Tax bill Wednesday, after procedural problems invalidated the previous votes.
Three portions of the bill reportedly violate the Senate’s Byrd rule, although congress members had already voted 227-203 in favor of the bill. The Senate is expected to continue reviewing its version and vote Tuesday night.
Rep Beto O'Rourke (D-TX), who voted “ no” in the first round of votes, spoke to Cheddar ahead of the most recent snafu, and said that the bill was “terrible”. O’Rourke says Congress had the opportunity to promote upward mobility for low-income and middle class Americans, but doesn’t think the current version does that. Instead, he argues that the plan transfers 86 percent of tax cuts to the wealthy, and knocks 13 million people off health insurance.
“This is the most massive restructuring of the tax code in more than 30 years, and unfortunately this was a blown opportunity,” Rep. Beto O'Rourke (D-TX), told Cheddar.
Before the voting glitch was revealed, President Donald Trump, Vice-President Mike Pence, and Speaker of the House Paul Ryan, all took to Twitter to celebrate the win. Notably, Speaker Ryan says that the bill is going to help struggling Americans who are living “paycheck-to-paycheck.”
“We said in 2016 that it will take real tax reforms for families and businesses to get the economy growing, and we were serious,” he said.
For full interview [click here](https://cheddar.com/videos/congressman-beto-orourke-d-tx-is-taking-on-texas-senator-ted-cruz).
President Trump raised the possibility on Monday that missing and presumed-dead journalist Jamal Khashoggi may have been murdered by "rogue killers" from Saudi Arabia, a theory he floated to reporters after a phone call with Saudi King Salman.
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Larry Kudlow, director of the National Economic Council, isn't worried about the possible bankruptcy that former retail giant Sears is facing. He says the U.S. has a "dynamic economy," and that's part of the process.
The alleged murder of Washington Post journalist Jamal Khashoggi has major corporations rethinking their involvement in Saudi Arabia, even as President Trump avoids taking a stance. Jeanne Whalen, a reporter for the Washington Post, said this could be destructive to the Saudis' effort to diversify their economy as they move away from oil.
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Stocks rebounded at the market open Friday after a massive two-day sell-off. The Dow Industrials shot up by 400 points.
Stocks continued their slide in volatile trading Thursday. Some tech stocks rebounded, albeit slightly, while President Trump continued his attacks on the Fed.
After President Trump spoke out about the Fed on Wednesday, Rep. Tom Reed (R-NY) told Cheddar that he believes the U.S. is headed towards a debt crisis, if spending isn't brought under control soon.
Larry Kudlow, chief economic adviser to the president, told Cheddar's J.D. Durkin the administration remains bullish on the economy ー and he noted that the tech sector in particular was up 50 percent since President Trump's election, "even with this correction."
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