Ahead of the midterm elections, Trump promised voters that he would propose a new tax cut for the middle class. It’s clear that was just another lie.
THEN: Trump promised voters a new 10% tax cut for the middle class.
Trump: “We’re going to be putting in a 10 percent tax cut for middle-income families.”
NOW: Treasury Secretary Steven Mnuchin is admitting Trump’s promise was just an election ploy.
Mnuchin: “I’m not going to comment on whether it is a real thing or not a real thing.”
The following article by Adam Peck was posted on the ThinkProgress website April 24, 2018:
Last week, U.S. Trade Representative Robert Lighthizer joined the cabal of cabinet-level officials from the Trump White House who have to defend themselves against charges of misusing taxpayer dollars for his own benefit.
The New York Post discovered that Lighthizer had authorized nearly $1,000,000 in spending to renovate two of his Washington, DC offices on the taxpayer’s dime. That figure included a 30-inch, $859 plaque emblazoned with the words “Executive Office of the President,” 90 office chairs billed at $600 apiece, and a $3,500 antique desk for himself. Continue reading “Trump officials went on a taxpayer-funded shopping spree. Here’s the bill.”
The following article by Naomi Jagoda and Niv Elis was posted on the Hill website March 30, 2018:
More than three months after the passage of the GOP’s tax-cut law, new surveys suggest that many people don’t think they are getting bigger paychecks, which could cut into support for Republicans in this fall’s midterm elections.
A CNBC poll this week stated that just 32 percent of working adults reported having more take-home pay due to the new law, a problem for Republicans hoping to run on the measure and the health of the economy in November.
The GOP has made the tax-cut law the centerpiece of its campaign message, arguing that Republican control of Congress and the White House led to legislation that is putting more money in people’s pockets and stimulating an economy with low unemployment. Continue reading “GOP tax message hits a snag”
The following article by Gregg Gelzinis was posted on the Center for American Progress website December 7, 2017:
The Trump administration is quietly choking off funding to financial stability programs that were established after the 2007-08 financial crisis. These funding cuts, which do not involve congressional appropriations, only make the U.S. financial system more vulnerable to future financial sector risks and will cost taxpayers in the long run.
The financial crisis made it clear that the financial regulatory regime in the United States lacked an adequate systemic risk mandate, as well as the resources necessary to fulfill that financial stability role. No regulatory body was tasked with assessing and mitigating the evolving risks that build up in financial institutions and financial markets across the financial system. Enacted in 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act created two entities to help tackle this regulatory gap: the Financial Stability Oversight Council(FSOC) and the Office of Financial Research (OFR). Continue reading “The Trump Administration Is Quietly Slashing Financial Stability Funding”
