Image 01 Image 03
Sign In or RegisterLogout

US Senate Tag

Posted by Mary Chastain on November 10, 2017 7 Comments
The House Ways and Means Committee passed its tax reform bill down party lines on Thursday after a week of markups. The House is the next step. The Senate has its own tax bill, which the two chambers will have to reconcile if each approves their own bill. From CNBC:
The House bill, called the Tax Cuts and Jobs Act, cuts the corporate tax rate from 35 percent to 20 percent, while moderately reducing household income tax rates. It changes some popular provisions such as the mortgage interest deduction, but leaves others, like the 401(k) tax benefit, unchanged.

Posted by Mary Chastain on October 31, 2017 19 Comments
Eyes are on tax reform this week as the GOP controlled House plans to release its tax reform bill on November 1, which may include elimination of state and local tax (SALT) deductions along with changes to 401(k) retirement plans. Both have received proper outrage, especially from representatives in high-taxed states. But if the elimination of state and local taxes pass the House, the Senate GOP said they have a unified front on that issue.

Posted by Fuzzy Slippers on October 28, 2017 76 Comments
Former Massachusetts governor and twice failed GOP candidate for president Mitt Romney is reportedly quite seriously contemplating a Senate run in Utah.  While the senior senator from Utah Orrin Hatch (R) has not announced any plans to retire, it appears that the Utah GOP is ready for Romney. Romney is no stranger to Senate campaigns; he ran against Ted Kennedy (D-MA) in 1994 and lost.  Utah, however, may be just the ticket for Romney who has high approval numbers there and is a favorite among the Utah GOP.

Posted by Mary Chastain on October 24, 2017 6 Comments
Musician Kid Rock confirmed on Howard Stern's show that he is not running for the senate. The whole idea was a publicity stunt for his new album, but doesn't really regret it. From Detroit Free Press:
"F--- no, I’m not running for Senate. Are you kidding me?" Rock said on Howard Stern's SiriusXM show. "Who couldn’t figure that out? I’m releasing a new album. I’m going on tour too. Are you f---ing sh--ing me?"

Posted by Mary Chastain on October 22, 2017 27 Comments
Last month, I blogged how Congress floated around making changes to 401(k) retirement plans in order to make up for lost "revenue" due to tax cuts. That change was taxing the earnings before a person places money into the fund. Another idea has come up and it's even worse. Now they are thinking about changing the pre-tax limit to $2,400 instead of $18,000. That's an 87% change and could force people to put even less into their retirement. It also adds fuel to Sen. Rand Paul's (R-KY) opposition to the Senate budget bill that passed, which allows a clearer path to tax reform, but didn't cut spending enough. Common sense tells us that he is correct.

Posted by Mary Chastain on October 20, 2017 12 Comments
The Senate passed a 2018 budget on Thursday night, 51-49, with Sen. Rand Paul (R-KY) being the only Republican who voted no. The biggest part of the budget, though, is that it provides a shortcut to tax reform using reconciliation instructions to protects a tax bill that adds up to $1.5 trillion to the deficit from a filibuster. The GOP Congress has failed to repeal Obamacare and they view tax reform as one way to save their butts. President Donald Trump has said he wants to sign something by the end of the year.

Posted by Mary Chastain on October 18, 2017 29 Comments
The GOP only has a two seat majority in the Senate, which has shown to be as fragile as everyone thinks after a handful of senators voted no on Obamacare "repeal" bills. The same trouble seems to be brewing when it comes to tax reform. Now that majority may shrink even more since a Fox News poll, yes FOX NEWS, shows that GOP candidate Roy Moore is tied with Democrat candidate Doug Jones at 42% for the Alabama senate seat.

Posted by Mary Chastain on October 03, 2017 11 Comments
The Washington Examiner has reported that Rep. Marsha Blackburn (R-TN) has begun preparing to run for Sen. Bob Corker's (R-TN) seat next year. Corker announced he would not run for reelection in 2018, making Blackburn the most liekly successor with conservative groups rallying behind her.

Posted by Mary Chastain on October 03, 2017 10 Comments
Last week, President Donald Trump's administration and the GOP in Congress released a framework for possible tax reform. The details are vague, noting that more will happen once tax reform switches to committees. However, two GOP senators have already voiced doubt over the framework: Kentucky Republican Rand Paul and Tennessee Republican Bob Corker, who recently announced he will not seek reelection next year.

Posted by Mary Chastain on October 02, 2017 12 Comments
The Democrats have decided to use the GOP's attempts to repeal Obamacare to their advantage in 2018. From The Hill:
“I think the message is really simple here: As long as Republicans control Congress, your health care is on the chopping block,” said Tyler Law, a spokesman for the Democratic Congressional Campaign Committee (DCCC), House Democrats’ campaign arm.
One problem: The GOP has shown that despite having control of Congress, they have not been able to repeal Obamacare.

Posted by Mary Chastain on September 30, 2017 5 Comments
Senate Republicans released its 2018 budget, which includes terms to allow the lawmakers to push through tax reform through budget reconciliation. This would protect them from a Democratic Filibuster. The plan gives tax writers until November 13 to submit tax reform plans.

Posted by Mary Chastain on September 27, 2017 14 Comments
The GOP received two shocks on Tuesday when Sen. Bob Corker (R-TN) decided not to run for re-election in 2018 and Judge Roy Moore defeated incumbent Sen. Luther Strange (R-AL) in the Republican primary. But how YUGE is Corker's retirement? Probably not much in the long run. Plus, it looks like the GOP could actually pick up more seats in 2018 since 10 Democrats up for reelection come from states that President Donald Trump won in November.

Posted by Mary Chastain on September 25, 2017 22 Comments
Welp, Sens. Bill Cassidy (R-LA) and Lindsey Graham (R-SC) tried to change their Obamacare "repeal and replace" bill to appease those senators that opposed it...but it did not work. Sen. Susan Collins (R-ME) has come out and officially declared she would vote no on both versions of the bill.

Posted by Mary Chastain on September 25, 2017 16 Comments
Sens. Billy Cassidy (R-LA) and Lindsey Graham (R-SC) hope to pass their Obamacare "repeal and replace" bill by the end of the month, but have encountered opposition from a few in their own party. Sens. John McCain (AZ) and Rand Paul (KY) have already said no while Sens. Susan Collins (ME) and Lisa Murkowski (AK) remain on the fence. Even Sen. Ted Cruz (R-TX) has said "that he's not yet on board with the legislation." This has led to a few changes to the bill, which includes boosts for Arizona, Alaska, Kentucky, and Maine as a way to entice these senators to vote yes.

Posted by Mary Chastain on September 22, 2017 56 Comments
Sen. John McCain (R-AZ) officially decided he will vote no on the Graham-Cassidy bill, which is the latest attempt the GOP has taken to repeal and replace Obamacare. From CNN:
"I cannot in good conscience vote for the Graham-Cassidy proposal," the Arizona Republican said in a statement. "I believe we could do better working together, Republicans and Democrats, and have not yet really tried. Nor could I support it without knowing how much it will cost, how it will effect insurance premiums, and how many people will be helped or hurt by it. Without a full CBO score, which won't be available by the end of the month, we won't have reliable answers to any of those questions."

Posted by Mary Chastain on September 20, 2017 13 Comments
Sens. Pat Toomey (R-PA) and Bob Corker (R-TN), two members with opposing views on fiscal policy, have announced "a path forward on tax reform" that "would allow for a tax reduction, as scored on a statistic basis, over a 10-year period." They hope to Senate Budget Committee will vote on said plan next week. The senators did not release any details about the plan, but new outlets have stated it will allow tax reductions up to $1.5 trillion. The Wall Street Journal reported that the "agreement would allow Republicans to lower tax rates while making fewer tough decisions on what tax breaks to eliminate to help pay for the cuts."
Accessibility by WAH