We Have a Constitutional Crisis and Paul Ryan is Still Talking About Tax Reform
He seems not to have gotten the memo: Wall Street has given up on tax reform 2017.
“Wall Street gives up on a 2017 tax overhaul.”
“After building up expectations for sweeping action on tax policy, executives and analysts are now deferring their hopes to next year — or beyond.”
“Wall Street and corporate America view President Donald Trump’s bold agenda for a sweeping tax overhaul as largely dead for the year.”
“Executives, lobbyists and Wall Street analysts increasingly believe the administration — distracted by repeated crises while facing a short and crowded legislative calendar — will be unable to deliver on Trump’s promise to slash corporate and individual tax rates this year and ignite significantly faster economic growth.”
They now have more modest expectations:
The main hope now in corporate America and on Wall Street is that the White House and Congress manage to bypass a scary fight over raising the nation’s debt limit this summer, keep the government open and avoid any major foreign policy crisis.
“It is just completely unrealistic to think they can get a big tax reform bill done this year,” said Greg Valliere, chief global strategist at Horizon Investments. “They haven’t even agreed whether they are doing tax cuts or tax reform. They haven’t decided if it needs to be paid for or not and I don’t think they appreciate just how big a fight the debt limit is going to be.”
“The Wall Street outlook for overhauling the tax code this year took a hit when the House revived the effort to repeal Obamacare, sending the issue to the Senate where it will now consume precious legislative time and political capital.”
“And while Hill Republicans argue that Trump’s decision to fire the FBI director and other Russia-related scandals will have no impact on tax reform, the political firestorm has already slowed down movement on Capitol Hill and emboldened Democrats to try to block Republicans’ every move. And Wall Street analysts believe it will help push tax reform into 2018 and perhaps even beyond next year’s midterm elections.”
“It’s very unlikely they can get tax reform done this year because the cleavages within the party on health care are very similar to those on taxes,” said Megan Greene, chief economist at Manulife. “And they say they want to do both corporate and individual rates and there’s no way they can do that by the end of the year. They will need a new budget to do tax reform through reconciliation and it’s not clear at all that they can pass that. And it’s going to be hard to get tax reform done next year because of the midterm elections so it may have to wait until 2019.”
Ah, 2019. By then hopefully we have a Dem House-with me a first time Congressman from the NY 2 District after beating long time Trump hack, Peter King.
As for Paul Ryan he remains Mr. See No Evil and Hear No Evil. He may be the most shameful man in America though it’s a close contest between him and Mitch McConnell.
Now he’s claiming someone wants to ‘Hurt the President.’
“Ryan: ‘Some people … want to harm the president’
“The House speaker says Republicans shouldn’t jump to conclusions about Trump and Comey.”
Exactly. You know-like Ryan and his Republican friends did about Hillary Clinton. There you could assume the worst before having any facts.
The GOP calls for Comey testifying are growing.
“Hill Republicans increase calls for Comey to testify.”
“And some GOP lawmakers are suggesting a special prosecutor or committee may be warranted.”
“A growing chorus of congressional Republicans are calling for former FBI Director James Comey to testify before Congress about his interactions President Donald Trump — including whether Trump tried to obstruct the criminal probe into ex-National Security Advisor Michael Flynn.”
“And more Republicans appeared open to appointing a special prosecutor or independent commission to investigate the ties between the Trump campaign and Russian officials.”
“Yet Trump and the White House have some defenders on Capitol Hill, and party leaders such as Speaker Paul Ryan (R-Wis.) are trying to contain the political fallout from the scandal by urging members to avoid “rushing to judgment.”
“And a number of Republicans are waving off allegations that Trump tried to derail the Flynn probe and then fired Comey over the issue, claiming it’s all hearsay and there is no concrete proof yet that Trump did anything improper. Comey reportedly kept contemporaneous notes of his conversations with the president.”
“But there’s been an unmistakable shift in attitude toward Trump among most congressional Republicans since the New York Times broke the story late Tuesday about the president’s interactions with the former FBI chief.”
“I think it’s time that we look at the idea of an independent commission or special prosecutor. I’m not sure the best venue,” said Rep. Adam Kinzinger (R-Ill.) during a Wednesday morning interview on CNN. “But I think it’s time that we do whatever is necessary that when this is over, we give people confidence that either way, either way it goes, justice has been served.”
Still games are still being played:
Do GOP chairs of Senate Intel and Judiciary committees want Comey to testify publicly?
— Greg Sargent (@ThePlumLineGS) May 17, 2017
P.S. As we saw in my poll out last week, the long awaited poll results are in, and right now I’m just 11 points down vs. Peter King (GOP-NY-District 2). And the voters don’t even know who I am yet.
There is nothing more important in getting answers to Trump-Russia collusion than a Democratic House in 2019. Please donate to help me in my part of the effort to fight for a Dem House.
Thank you. We must have a Dem House. And so, we will.