Tuesday, November 28, 2017

GOP should unite for legacy tax-reform vote

 

"GOP SHOULD UNITE FOR LEGACY TAX-REFORM VOTE"

-Bernie Marcus in The Hill


Bernie Marcus, chairman of the Marcus Foundation and retired co-founder of The Home Depot, writes in The Hill that delivering tax relief to the American people is "a legacy for which every U.S. senator should be remembered." Marcus suggests Republicans "focus on the bill, not the shills" and look at the facts: Doubling the zero tax rate, doubling the child tax credit, and expanding the 12 percent bracket would save middle-class taxpayers thousands per year.


"That's a huge relief for the four-fifths of working Americans who live paycheck-to-paycheck," says Marcus. "For many senators, this will be a legacy-cementing vote for which they will be remembered and thanked long after they're gone."


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In The Wall Street Journal, Merck & Co. CEO Kenneth Frazier says two numbers deserve far more attention than they've gotten in this month's tax debate: 36 and $510 billion. "Thirty-six is the number of formerly U.S.-based companies that moved their headquarters overseas between 2004 and 2016," writes Frazier. "$510 billion left the U.S. economy in cross-border mergers and acquisitions" during the same period. His solution? A territorial tax system, as the Senate tax reform bill proposes.

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On immigration, Mica Rosenberg and Reade Levinson of Reuters write that 29 police departments across the country have joined a special program allowing officers to be deputized to perform certain tasks of immigration agents. Trained by U.S. Immigrations and Customs Enforcement personnel, these officers vet arrested individuals that are suspected of being in the country illegally.

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In economic news, CNBC reports that sales of new U.S. single-family homes increased 6.2 percent in October, "hitting their highest level in 10 years." October marks the third consecutive month that new home sales have increased.

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'Tis the season! A photo essay in The New York Times captured the moment yesterday as First Lady Melania Trump unveiled this year's White House Christmas decorations. The theme for the First Family's first Christmas in office is "Time-Honored Traditions," which "looks back at the 200 years of holiday celebrations" in the White House, writes Tanner Curtis.


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