Would tax cut bring higher wages?

WASHINGTON — Gary Cohn, the top White House economic adviser, was onstage making the Trump administration’s case that a huge cut in corporate taxes would trigger a surge of business investments. Then came an off-the-cuff question to business leaders listening to Cohn at The Wall Street Journal CEO Council meeting last week: How many will increase… Please follow and like us:

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US sanctions 10 more Venezuelan government leaders

MIAMI — Denouncing last month’s regional Venezuelan elections as irregular, the Trump administration imposed new individual sanctions Thursday against 10 Venezuelans it accused of undermining democracy, censoring the news media and engaging in the corrupt administration of government-run food programs. The Treasury Department froze U.S. assets, banned U.S. travel and prohibited Americans from doing business with… Please follow and like us:

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Fannie Mae and Freddie Mac still backed by too much credit

Federal Housing Finance Agency (FHFA) Director Mel Watt recently made an urgent plea for Congress to decide on a long-term strategy for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, now in their 10th year of conservatorship overseen by his agency. Capitol Hill does not seem to share Mr. Watt’s sense of urgency, however. The… Please follow and like us:

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Trump’s Likely Fed Chair Could Be Good for Business

When it comes to the Federal Reserve, President Donald Trump has been all over the map. He’s alternately praised and attacked its leader, Janet Yellin. During the 2016 campaign, he labeled her a stooge of President Barack Obama who he said was keeping interest rates and the economy humming just to get Hillary Clinton elected. “The… Please follow and like us:

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Treasury Dept. report slams consumer bureau’s rule to expand class-action lawsuits against banks

The Trump administration is taking aim Monday at a new rule issued by the Consumer Financial Protection Bureau that would expand class-action lawsuits against banks, saying it will impose legal defense costs of more than $500 million per year on employers and provide little or no relief for consumers. A Treasury Department analysis of the CFPB’s… Please follow and like us:

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New Trump EO imposes harsh economic quarantine on Rocket Man

WASHINGTON, September 21, 2017 – As U.S. stocks continued to wobble in negative territory Thursday in response to Wednesday’s relatively stiff Fed comments on bonds and interest rates, President Trump added a new headline risk for traders and investors today with an Executive Order aimed at further cramping North Korea’s nuclear shenanigans. Major averages closed modestly… Please follow and like us:

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National debt tops $20 trillion for first time

The federal government racked up $318 billion in new debt Friday, putting it over the $20 trillion mark for the first time in U.S. history, according to new Treasury Department numbers. The total outstanding federal public debt now stands at $20.162 trillion. The spike came after Congress on Friday approved a new debt holiday, allowing the… Please follow and like us:

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Watchdog Sues Treasury Over Mnuchin’s Eclipse Trip

The Treasury Department has failed to provide information on Secretary Steve Mnuchin’s high-profile use of a government plane while traveling with his luxury-loving wife to Kentucky last month to check out the solar eclipse and Fort Knox, a new lawsuit argued Monday. Citizens for Responsibility and Ethics in Washington claimed in the suit that Treasury officials… Please follow and like us:

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Trump cuts deal with Schumer, Pelosi, agrees to raise debt limit

President Trump and congressional Democrats on Wednesday did what Washington does best, striking a deal to boost borrowing and spending in order to keep the government running and to speed disaster relief to Texas and Florida. Mr. Trump struck the deal with House Minority Leader Nancy Pelosi and Senate Minority Leader Charles E. Schumer at a… Please follow and like us:

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Left-wing, mud-slinging Southern Poverty Law Center on the defense

WASHINGTON, September 1, 2017 – The Southern Poverty Law Center (SPLC) claims to be a watchdog over “hate groups and racial extremists throughout the United States.” But perhaps the SPLC is a radical left-wing organization itself, with an extremist agenda of its own. According to a June 21, 2017 article in the Wall Street Journal, “Aided… Please follow and like us:

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US credit rating at risk if debt limit is not raised in a ‘timely manner,’ Fitch warns

WASHINGTON — The nation’s credit rating is at risk if the $19.9 trillion debt limit is not raised “in a timely manner” before the Treasury runs out of cash in October, Fitch Ratings warned on Wednesday. “Brinkmanship over the debt limit could ultimately have rating consequences, as failure to raise it would jeopardize the Treasury’s ability… Please follow and like us:

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Republicans Face Imminent Debt Limit Crisis

Congress is getting closer to the can it kicked down the road in November 2015 when it suspended the debt limit — then $18.1 trillion. Lawmakers ordered the limit to rise to whatever the debt level was in March of this year. Since then, the Treasury Department has been taking “extraordinary measures” to ensure that it… Please follow and like us:

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House Conservatives Set Ambitious Tax Reform Target: The IRS

A group of 151 conservative Republican congressmen are calling for the Internal Revenue Service to be abolished, calling it an “inefficient behemoth weighing down our economy.” “At its worst, the IRS has shown a capacity for outright corruption and political targeting,” the Republican Study Committee wrote in its budget released Thursday. “Under the Obama Administration, the… Please follow and like us:

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Trump to Order Review of US Tax, Financial Reform Laws

President Donald Trump will sign an executive order Friday directing the Treasury Department to review significant tax regulations that were implemented last year, with an eye toward fulfilling a campaign promise to reduce the tax burden on Americans, according to the White House. The president also will sign two memoranda ordering reviews of a 2010 Wall… Please follow and like us:

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