Category Archives: The Economy

It’s gonna be a tough one to get the Trump/House Tax package thru the Senate…

Are we looking at a healthcare repeal repeat in the Senate?

Senate Majority Leader CANNOT have more than 3 GOPer’s come out against the tax bill….

In fact the Senate looks like it will write its own bill….

And that would mean more time…

Something that works against the Republicans…

The House GOP tax-reform package has put Senate Republicans in a tough spot, much like the House-passed ObamaCare repeal bill did earlier this year.

The legislation is expected to pass the House, starting a tougher battle in the Senate, where Republicans control 52 seats and can’t pass a bill if they suffer more than two defections and Democrats remain unified.

At least a half-dozen Senate Republicans have already raised concerns about various proposals in the tax measure, setting the stage for arduous negotiations in the upper chamber.

Senate GOP leaders have assured their colleagues that the Senate Finance Committee will write its own bill and urged them to withhold judgment on the House measure.

“They’ve told us the House bill is just a shell and we’ll have our own bill. They’ve asked to hold off on commenting and to not pick it apart,” said a Republican senator summarizing the instructions that Senate Majority Leader Mitch McConnell (R-Ky.) gave during a Thursday lunch meeting…..

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Americans Do NOT like Trump/Republican tax plan by a 17-point margin early on….

If Republicans actually pass something ?

It won’t look ANYTHING like what they just put out….

The word by some is that the tax plan will be MORE difficult for Republicans to pass than their efforts to repeal healthcare which hasn’t been successful at ALL….

Republicans seem to be hard pressed to try pass unpopular legislation that will endanger their members in the midterm election for next year which are only a year away….

Americans oppose the GOP tax plan by a 17-point margin, according to a new ABC News/Washington Post poll.

Half of Americans oppose the plan, a six-point increase from September. Only 33 percent support it. Among Democrats, 79 percent oppose the plan, while 75 percent of Republicans support it.

The survey was conducted from Oct. 29 to Nov. 1 among 1005 adults, just days before Republicans released the bill, meaning views of the tax plan could change.

Sixty percent of those surveyed said the plan primarily favors the wealthy. President Trump has touted the plan as beneficial for the middle class, but many critics of the bill have said that the corporate tax cuts and phase-out of the estate tax will benefit the richest Americans.

Even the majority of wealthy Americans agree – among respondents with incomes of $100,000 or more, 61 percent said the plan benefits the wealthy. And among the respondents who say it benefits the wealthy, only 10 percent say they support the plan.

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Jobless rate drops to 17 year low of 4.1% last month…But?

In the aftermath of the hurricane’s that came thru the country has knocked  people out of the labor force….

And wages aren’t climbing from employers…

The unemployment figure has fallen sharply this year, from 4.8% in January. But even as the labor market has tightened, wage growth has remained stubbornly subdued.

Average hourly earnings for all private-sector workers dropped a penny in October, to $26.53, after jumping 12 cents in the prior month. Over the last 12 months, average pay for workers has risen just 2.4%.

Last month’s job growth of 261,000 was less than the 310,000 or so that analysts were expecting, but the September payroll change was revised higher — from a loss of 33,000 jobs initially reported to a small gain of 18,000. Job growth for August also was stronger than previously estimated.

Taking the last three months together, employers added on average 162,000 jobs a month. That is down slightly from last year and the first half of this year, but still well above what’s needed to absorb the natural increase in the workforce population….

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The GOP Tax plan is out…..

When and if they actually pass something?

It won’t look like what is out today….

This blueprint will NOT work in several cases for Blue state Republicans….But does give incentives for them to try to swallow the plan…It is also desingned to possibly give Democrats in Red state’s wiggle room to vote for it….Blue state middle Americans’s could actually see their tax payments increase due to the limits on deductions for several things they currently get….

Republicans are trying hard to follow Senate rules that would allow them to have simple majority vote on the bill….That means like with healthcare the critical votes will come from a few Senators ….A Failure to get the 51 votes in the Senate would doom this like healthcare….They do NOT have the votes for a 60 vote passage ….

The House GOP tax plan keeps the 39.6% tax-rate for the wealthiest Americans ($1 million income for married couples), caps the mortgage interest deduction for newly purchased homes at $500,000 (down from $1 million), and will allow only $10,000 of property tax to be deducted, according to a fact sheet.

Why it matters: Lawmakers are finally seeing the full details of the proposal this morning. Already some Republicans had expressed concerns and powerful lobbying groups like homebuilders had expressed opposition.

Other details:
  • Increases standard deduction from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples.
  • Individual tax rate brackets, per the Wall Street Journal:
    • 25 percent rate starting at $90,000 for married couples, $45,000 for individuals (everyone below that pays a 12 percent rate).
    • 35 percent rate starting at $260,000 for married couples, $200,000 for individuals.
    • 39.6 percent rate starting at $1 million for married couples, $500,000 for individuals.
  • Expands the Child Tax Credit from $1,000 to $1,600 and provides a credit of $300 for each parent and non-child dependent.
  • Makes no changes to deductions for charitable contributions
  • Elimination of student loan and medical expense deductions and the adoption tax credit, per the WSJ.
  • Doesn’t change contribution rules for 401(k)s
  • Continues to allow people to write off the cost of state and local property taxes up to $10,000.
  • Repeals the Alternative Minimum Tax.
  • Doubles the estate tax exemption immediately and repeals the tax in six years.
  • One-time tax on U.S. companies’ repatriated foreign profits; 12 percent rate on cash and a 5 percent rate on illiquid investments, per the WSJ.
  • Lowers corporate tax rate to 20% and lowers rate for pass-through entities (often small businesses that report taxes as individuals) to 25%
  • Interest deductibility capped at 30 percent of interest, per the WSJ.
Bottom line: There are still a lot of questions in the fact sheets that won’t be answered until there is full legislative text…..

The red state Democrats are bending over backward to show that they’re not kneejerk “no” votes. Indiana Sen. Joe Donnelly, for example, traveled with Trump to Indianapolis on Air Force One in September so he could listen to his speech on taxes. He also attended an event Vice President Pence, the state’s former governor, held to promote the cuts. Donnelly’s main message back home is that any changes to the tax code ought to discourage the outsourcing of jobs. He tells voters that he personally pitched the president on his “End Outsourcing Act” during a September dinner. He let it be known back in February that he talked about the bill during a meeting at the White House. He also put word out in June when he discussed his proposal with Treasury Secretary Steven Mnuchin.

In truth, despite all the public shows of outreach, Trump is moving full steam ahead without any Democratic buy-in and Republicans have frozen these members out of the negotiation process. After months of behind-the-scenes negotiations and numerous delays, House Republican leaders will today release a draft of their tax plan. It is designed with the expectation that not a single Democrat will support it….

Some Democrats on the Hill say they hope the Republican tax bill goes down the way that their Obamacare repeal proposals did, and that the White House is then so desperate for a win that Trump comes to negotiate with moderates who might be willing to support something more scaled back.

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The Bill….

Note….

Don’t fool yourself….

Republicans want the media to focus on this roll-out , then Trump’s Asian trip instead of the unfolding Mueller investigation….

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Trump’s top economist argues for more Government Jobs…

Huh?

BIGGER Government PAYROLL???

Image result for kevin hassett

Does this guy know he’s working for a REPUBLICAN President?

Wait?….He’s a Conservertive also?

Bigger Governement is a curse to Republicans….

President Donald Trump’s top economist has an unusual idea for dealing with the problem of long-term unemployment: Just have the government hire people.

That’s a New Deal-style idea more closely associated with highly progressive Democrats. But Kevin Hassett, the conservative chairman of the White House Council of Economic Advisers, believes some Americans are so disconnected from the workforce that the best idea to get them working again could be a federal jobs program that would ultimately lead to private-sector employment.

“We’ve not done a good job as a society at thinking about how do we take people who have become discouraged and reconnect them,” Hassett said in the latest edition of the “POLITICO Money” podcast. “And it’s such an urgent problem that government programs that directly hire people might be part of the solution.”

This and other unusual ideas could emerge next year when the White House hopes to pivot from its current tax cut push to an infrastructure bill aimed both at rebuilding crumbling roads, bridges, ports and other national assets and at addressing the shrunken size of the labor force.

To Hassett, long-term unemployment often leads to family breakdown and descent into addiction and other maladies. “People who have been unemployed for more than a year very often don’t ever reconnect to the labor force,” ….

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image…wsj.com

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Republican Tax bill on hold….Do they have the votes?

Things like tnkering with 401-K’s, Mortgage deductions, State and Local tax deductions and where do you get the money to replace the rich handout’s are causing problems for the new signature legislation that Republicans are trying hustle thru Congress….And Donald Trump is hoping to able to crow about while Mueller nibbles around his ankles…

The changes pit Red state Republicans against their own party Blue state members….

House Republicans delayed the rollout of their tax bill late on Tuesday, in a sign of early trouble for what party leaders had hoped would be a quick victory.

The bill, which had been scheduled for release on Wednesday, was delayed until Thursday, as Republicans struggled with the daunting arithmetic of drastically cutting tax rates without alienating key constituencies by eliminating popular tax breaks. After a day of negotiations on Capitol Hill and confusion across Washington, the House’s chief tax writer acknowledged the delay but vowed to stay on track with an ambitious plan to pass a bill through the chamber by Thanksgiving.

“In consultation with President Trump and our leadership team, we have decided to release the bill text on Thursday,” the tax writer, Representative Kevin Brady, Republican of Texas and the chairman of the House Ways and Means Committee, said in a statement. “We are pleased with the progress we are making, and we remain on schedule to take action and approve a bill at our committee beginning next week.”

Even if the delay does not throw the Republican schedule off course, it signals potential difficulties ahead for a bill that Republicans are attempting to pass on a party-line basis, over what appear most likely to be loud objections from some business groups — and relentless criticism from Democrats.

“When one party tries to rush through a bill of this significance that was drafted in secret without a single public hearing, you can expect outcomes like this,” said Representative Richard E. Neal of Massachusetts, the top Democrat on the Ways and Means Committee. “Republicans should slow down, work through the regular legislative order and do this right, not fast.”….

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Brexit or Not?…Tory donors tell May: no deal is better than a bad Brexit

The Brit’s are having serious issues with leaving the European Union….

The EU is playing hardball…

Image result for PM May/merkel

Senior Tory donors have warned that Theresa May should walk away from Brexittalks rather than accept an “unsatisfactory and unfavourable deal” that would poison relations with Europe for another generation.

In a sign of growing frustration among pro-Brexit Tories over the lack of progress made in talks with Brussels, one donor said he feared some pro-Remain cabinet ministers were suffering from “Stockholm syndrome” – when hostages develop a bond with their captors.

The calls for May to be prepared to walk away comes amid new warnings that a “no deal” outcome will lead to foreign firms leaving, steep price rises, widespread job losses and disaster for the Irish economy.

In submissions to a parliamentary inquiry seen by the Observer, retailers, the City, universities, the freight industry, overseas investors and food suppliers all sound the alarm over the consequences of crashing out. However, some Tory Brexiters are concerned at the slow pace of negotiations and want the option of walking away to be a viable one.

Michael Farmer, a Tory peer and former party treasurer who has given millions to the Conservatives and the Leave campaign, told the Observer that former prime minister David Cameron’s failure to secure major concessions over Britain’s EU membership before last year’s referendum showed the dangers of accepting a bad deal….

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image…euoobserver.com.com

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US Economy picked up in the 3rd Qtr of 2017….

Nobody really knows why….

And economists are very cautious about if this continue….

The United States economy is showing increased signs of resilience.

The nation’s gross domestic product, a key indicator of economic strength, expanded at an annual rate of 3 percent in the third quarter, the Commerce Department reported on Friday. The expansion defied concerns that hurricanes in Texas and Florida would put a damper on output.

Republicans called the report a sign that businesses were already spending more in anticipation of a corporate tax cut, and evidence that the economy could grow faster over the long term than currently forecast.

“If you look at the G.D.P. data, it’s clear that is a major reason,” Kevin Hassett, the chairman of the White House Council of Economic Advisers, asserted on Friday.

Many economists, however, are reluctant to give Congress or the administration too much credit for the economy’s trajectory.

“There hasn’t been anything concrete in terms of spending or tax cuts that we can point to that’s fueling the acceleration,” said Scott Anderson, chief economist at Bank of the West in San Francisco. If anyone deserves credit for the good news, he said, it is the Federal Reserve chairwoman, Janet L. Yellen.

The economy is experiencing its fastest growth spurt in two consecutive quarters since 2014, after hitting 3.1 percent in the spring, a level that prompted President Trump to suggest that “we’re really on our way” to sustaining that pace year-round. “On a yearly basis, as you know, the last administration, during an eight-year period, never hit 3 percent,” Mr. Trump said during a speech in Missouri in August.

But economists say it is highly unlikely that growth for the year will reach 3 percent. The first quarter was tepid, and projections for the current quarter hover around 2.8 percent….

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George W. Bush was no picnic….

A LOT of us are talking about how bad it is living with Donald Trump rummaging around….

I mean it IS so bad that when asked if we’d like George W. Bush back?

We say gladly…..

Image result for George W. Bush/Trump

The Washington Post has Rich Benjamin writing to remind us about how messed things where during Bush II’s time in office….

And how Bush did a LOT of things Donald Trump and Republicans are trying to duplicate almost 20 years later….

And as Trump sells his tax plan, the country should beware of deja vu. Bush’s tax cuts in 2001 and 2003 delivered the top 1 percent of earners an average tax break of more than $570,000 between 2004 and 2012. Bush boosted that top 1 percent’s already high after-tax income by more than 5 percent each year. To what end?  Even Bush’s chief economist on the Council of Economic Advisers, looking at the results from 2001 to 2007, found “no first-order evidence in the aggregate data that these tax cuts generated growth.” Despite Bush and Rove’s promises, the tax cuts did not demonstrably improve economic growth nor pay for themselves.

Just as they flouted sound economics, Bush administration officials espoused an anti-intellectual stance, quite eager to disparage experts and information-gathering and dispute settled facts. It was Bush and Rove who demonized climate scientists, reproductive health specialists, stem-cell researchers and Middle East experts. Referring to the war in Iraq, a top Bush aide once mocked “the reality-based community,” a code for those who dare criticized Bush’s policies — gasp! — based on facts. Bush dishonestly teed up the anti-intellectual, anti-elitist rage that became the emotional touchstone of Trumpism.

Admittedly, Bush is more of a free-trade globalist in principle than Trump. As wealthy, coastal elites in good standing with the Republican establishment, the Bush family personifies what the Trump base hates. But those contrasts are smoke and mirrors. There’s very little lifestyle or ideological difference between the Bush clan and core members of the Trump administration: Jared Kushner, Steven Mnuchin, Gary Cohn, Rex Tillerson or Betsy DeVos (whose brother, Erik Prince, founded Blackwater, the military contracting outfit the Bush administration turned to so often in Iraq and Afghanistan).

The brewing Bush nostalgia helps the public forget how Bush helped make Trump possible in the first place,….

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image…salon.com

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Democrats go after Republican’s for their Budget vote….

Republicans running in midterms are gonna go thru the same flack they went thru on their healthcare moves…

Ain’t gonna be fun in a lotta places explaining how their budget/tax cut could  cost middle class American’s the LOSS of sizable tax deductions in ceratain states…

New Jersey Rep. Rodney Frelinghuysen was the only Garden State Republican to vote for the resolution.

His affluent 11th District benefits more from the so-called SALT deduction than any other GOP-held congressional district in the country, according to an analysis from the Tax Policy Center.

Frelinghuysen, the chair of the Appropriations Committee, is facing a competitive race for the first time in years. Democrats made him an early target for 2018 after President Donald Trump won his district by less than a point.

Democrats have already been hammering him for supporting leadership’s efforts to repeal the 2010 health care law, and they see his vote for this budget resolution as an opportunity to attack the 12-term lawmaker on an issue that resonates in the New Jersey suburbs.

Democratic Mikie Sherrill, a former Navy pilot and federal prosecutor, accused Frelinghuysen of voting “against the interests of his constituents” in a statement immediately following the vote.

“This Republican-supported tax increase will serve as the first step in giving tax cuts to the wealthiest Americans while hiking taxes on New Jersey’s families,” Sherrill said. “This vote is another example of why Congressman Frelinghuysen is no longer fit to represent the people of the 11th district of New Jersey.”

 

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….Democrats are counting on internal GOP disagreements on divisive issues, such as whether to eliminate the deduction for state and local taxes, to slow any momentum Republicans currently have. If Republicans start 2018 without an agreement, Democrats are betting they will be desperate to compromise.

Several top Republicans have said their House and Senate majorities will be in peril if they fall short on tax reform and fail to repeal Obamacare.

Pelosi herself touched on the GOP’s predicament during the caucus meeting.

“Their biggest argument in favor of their tax bill is, ‘Well, we won’t win next year’s election, unless we pass something,’” she said. “So we have to make sure this doesn’t happen.”….

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Trump/GOP tax plan would cost New Yorkers $72 billion annually…

The New York Daily News puts it out there….

The same numbers would apply closely for New Jersey,  Massachusetts , California and other states….

Most House members from these states voted against the new budget plan…

The GOP’s plan to eliminate the federal deduction for state and local taxes could cost New Yorkers $72 billion a year, state controller Thomas DiNapoli warned Thursday.

DiNapoli said the President Trump-backed tax plan could result in higher tax bills for many New Yorkers while giving only modest savings to others.

“New Yorkers lose valuable deductions under the proposed changes to the federal tax code,” DiNapoli said in his report.

Manhattan taxpayers would be the hardest hit, losing an average deduction of $60,384, according to the controller’s report. Westchester and Nassau County residents would lose average deductions of $34,345 and $23,586, respectively.

“Washington should proceed with caution, because these and other changes have far-reaching implications that not only hit the bottom line for taxpayers, but could affect state and local finances in ways that are hard to predict,” DiNapoli said.

The report was released as the House of Representatives narrowly approved a budget resolution that includes removal of the so-called SALT deductions….

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The House narrowly passes a 2018 Budget PLAN….

The vote was 216 to 212…..

New York, New Jersey and California REPUBLICAN House memebers voted AGAINST the outline of what a possible final budget would end up being….

Why?

Because in the plan’s tax cut part?

People in those states would LOSE tax advantages and the budget would actually INCREASE the nations budget deficit by as much as $2  TRILLON. over the next 10 years…

To say the whole thing is crazyily unbalanced  is a understatement ….

The final product is unlikely to look anything like what they voted on today….

The Republican ‘s now will have to try to CUT hundreds of billions from programs benefiting poor and middel class Americans to give to the rich 1% and their businesses…

Final approval of the budget measure clears the way for House leaders to unveil their tax plan next Wednesday, with a formal bill drafting expected by mid-November. The high-stakes legislative sprint could affect households in every state and businesses in every industry, with enormous political consequences for President Trump and Republicans in Congress.

The budget measure would allow for a tax bill that adds as much as $1.5 trillion to federal deficits over a decade, at a time when the federal government is already piling up more and more debt, which has now topped $20 trillion. The deficit for the 2017 fiscal year, which ended Sept. 30, totaled $666 billion, an increase of $80 billion from the previous year.

The outline of a tax plan unveiled in September would cut the corporate income tax rate to 20 percent, from 35 percent, collapse individual income tax brackets from seven to three, with tax rates of 12 percent, 25 percent and 35 percent, and double the standard deduction to $12,000 for individuals and to $24,000 for married couples filing jointly. But the hardest decisions on how to mitigate the costs of the proposal have yet to be made.

The blueprint, as unveiled, would cost the Treasury more than $2 trillion over a decade, according to estimates by tax-writing experts. Now Congress must now find a way to force those proposals into a $1.5 trillion budget hole.

Disagreements on how to do that have begun spilling into public view. In addition to the dispute over the deduction for state and local taxes, Mr. Trump and the House’s chief tax writer, Representative Kevin Brady of Texas, have collided over the issue of retirement savings, another delicate issue.

Republicans hope that by the end of the year, they will be able to deliver to Mr. Trump the first significant revamping of the tax code since the Reagan administration, a feat that would show that unified Republican government can take on a big challenge and produce success.

But overhauling the tax code is an exceedingly difficult task, as evidenced by the decades that have passed since it was last achieved….

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Please NOTE….

Republicans are using the same procedure, called reconciliation, to avoid having to win the eight Democratic votes they would likely need to pass the bill with a 60-vote super-majority in the 100-member Senate. Reconciliation is a procedural mechanism originally intended to quickly clean up minor differences in the spending plans proposed by the Senate and the House by setting aside rules that slow the process. Lawmakers quickly learned that, with carefully written legislation, they could also move controversial legislation, like massive tax cuts or an overhaul of the health-care system, through reconciliation.

Didn’t the attempts to repeal health care with reconciliation fail?

Indeed they did. Republicans only have a two-vote margin in the Senate (effectively three, if you include vice president Mike Pence’s ability to cast the tie-breaking vote). If they lose just three votes, they still can’t pass anything. It’s possible the same thing will happen with this tax bill—except that cutting taxes is a far easier sell to Republicans, of course. It’s why they put up with Donald Trump….

What’s left to find out?

Everything, really. Like most preliminary documents, both the unified framework and the budget resolution kick the most critical decisions down the road. Republicans face a tightrope wire between who benefits from the tax cuts, and how much of the cuts get paid for versus how much the public will borrow. The more debt in the plan, the harder it will be to win critical votes in the Senate. But paying for the tax cuts by reducing loopholes—such as the deductions for state and local taxes, charitable giving or retirement savings—could alienate lawmakers whose constituents benefit. It’s a very difficult line to walk…

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Iowa’s individual insurance market has gone South…It may be a preview for GOP Midterm elections Big Trouble….

While the individual insurance market is alive  and fairly healthy in large mostly Blue states….Rural states ARE having BIG  problems….

Politico takes an extensive look at the problems in Iowa and how rising rates,  insurance companies mistakes, State miscues ,  and bad plans are making its people mad at  Republicans in the current Congress….Not the Democrats whom passed the healthcare program which they joined and now is causing them anguish ….

t was always going to be difficult to build a viable individual insurance market in a predominantly rural state like Iowa. One big reason for that: Insurers have little bargaining power with major health care providers that they need to create viable networks for their customers. California, which has a thriving Obamacare marketplace, has more than four times as many residents per square mile than Iowa.

“It’s hard to build inexpensive networks when the only hospital within 30 miles has you over a barrel,” said Dave Anderson, a health insurance expert at Duke University who has written extensively about the Obamacare markets.

But there were also crucial developments that further undermined Iowa’s marketplace from the outset. The state’s dominant insurer, Wellmark Blue Cross and Blue Shield, which controls about three quarters of the state’s market, decided not to sell plans on the Obamacare marketplace from the outset. There was just one other state nationwide, Mississippi, where the dominant Blue plan opted not to participate.

“They were sitting on the healthy, profitable members in the state. They had no good reason to get on the exchange,” Anderson said. “The risk pool on the exchange was going to be a very sick risk pool.”

State regulators also made a critical decision during the first open-enrollment season in 2013: They decided to allow plans that don’t meet the coverage requirements of the Affordable Care Act to remain in place. That became possible after the Obama administration, facing an intense backlash over canceled plans and the disastrous launch of HealthCare.gov, gave states the option of grandfathering in noncompliant plans.

Iowa officials were far from alone in allowing plans that don’t meet Obamacare’s coverage requirements to stay on the market, but the implications were far more significant in the state. As of May, more than half of the state’s individual market—roughly 80,000 individuals—remained in noncompliant plans. Nationwide, that figure is closer to 10 percent, according to data crunched by Charles Gaba, who runs a blog that tracks Obamacare enrollment….

Nobody knows exactly what to expect when open enrollment begins on Nov. 1.

That uncertainty is compounded by the continuing disarray in Washington over how to deal with Obamacare. Congressional Republicans have repeatedly failed in their efforts to repeal and replace the law, and the prospects for passing a bipartisan package to stabilize the markets appear grim.

“It’s really truly amazing that we could have this much uncertainty at any given time,” said Doug Cropper, CEO of Genesis Health System, which operates in the Quad Cities region. “It’s just very, very unique in my 36-year career.”

At the same time, the Trump administration has taken steps that have further destabilized the wobbly markets. Earlier this month, the White House announced that it’s cutting off subsidy payments that insurers rely on to reduce out-of-pocket costs for their poorest Obamacare customers. That means insurers are jacking up premiums by an additional 15 percent or more to account for the funding shortfall….

The chaotic situation in Iowa could have political ramifications for 2018 and beyond. Trump has blamed the troubled Obamacare markets on Democrats, but polling data suggest the public will overwhelmingly fault Republicans for future problems. That could spell trouble for candidates on the ballot next year, including Gov. Reynolds and Reps. Rod Blum and David Young, who are top Democratic targets.

“They either have to decide they’re going to go after Trump for roiling the Iowa market or they have to stand by him,”…

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Note….

It IS this dogs feeling that Congress will vote to allocate subsidy money by the years end, which will be after the Insurance companies have to set their rates in a little over a week….

Congress NEVER does well on deadlines and Trump throwing the issue back at Congress , while dancing on what he wants does NOTHING to help things….

Make no mistake….

If the market thing does NOT calm down?

This healthcare thing WILL land in Republican laps…..This isn’t about President Obama and the Democrats…It’;s about people in Washington that want to take away small , rural peoples healthcare insurance and send them back Emergency Rooms for coverage….

Update….

Iowa on Monday withdrew a request to waive some Obamacare rules to help shore up its struggling healthcare insurance market, marking a setback in efforts by Republican-governed states to sidestep requirements of the Obama-era law.

With open enrollment for the Affordable Care Act – better known as Obamacare – set to start in just over a week, the state announced it would no longer wait to hear if federal officials would approve its request aimed at cutting individual healthcare insurance premiums and widening coverage.

The withdrawal prompted a leading U.S. Senate Republican to urge Congress to approve a bipartisan fix to Obamacare, which President Donald Trump has vowed to scrap….

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(Above Bold by me)

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Donald Trrump, as usual, is all over the place on a Tax Bill….

It has been passed around that Donald Trump’s memory is so bad that you can only count on what the last person to see him ?….Tells him…..

Back before he got his day job at 1600 Pennsylvania Ave?…..When his OWN lawyers sat down to discuss legal stuff with him ?…There had to be TWO present so Trump could ‘change his mind’ on what was said to him and what he made up….

While people in the media make up all these clever reasons for Trump trying to work ‘deals’?

It appears that isn’t the case…..

Donald J. Trump really IS ALL OVER THE PLACE….

He has no ideology…

He has to repeat to Republicans that he’s one of them and often says one thing that might make Democrats happy, only to backtrack when his adopted party people voice displeasure at his utterances….

This has been the case in just about EVERYTHING the guy says out loud….

Republicans law makers admit in private what Sen. Bob Corker and Sec of State Rex Tillerson have said in public…..

The President of the United States doesn’t know what he doing…..

The problem is a LOT of Republicans supporters (Hardly anyone else) don’t care if their guy doesn’t have a strong grip on reality….

He’s THEIR Guy…..

So we have a point in time right now where his party people in the Senate and House say they want to do one thing?….And Donald Trump says another….

This isn’t a deliberate want to create chaos …..

One has to conclude that Trump talks to different people or reads something online and just changes direction…..

As with Healthcare ?

Trump’s odds of passing a tax cut bill may never cross the finish line because as usual?

A big problem is Republicans themselves are SOOOOO desperate to get a mjor piece of legislation done on their cmapiagn promise to cut taxes that they rushing around throwing things up in the air that they want to do….Most of their cuts will be impossible to get political support from Trump and other Republicans who are running next year in the midterm elections….

Just about EVERYTHING he touches?

Turns to SHIT.….

Now Republican negotiators are looking at cutting back on many of the deductions families and businesses use to limit their taxes to offset the lower rates, but Republicans and the White House are under pressure to back away from some of the demands.

One of the changes Republicans had floated was simplifying the tax benefits tied to retirement benefits, fueling concerns that they could make changes to 401(k) plans. Americans are allowed to contribute up to $18,000 pretax into their 401(k) plans each year as a way to incentivize saving for retirement. Lowering that pretax threshold could raise more revenue but face a backlash from many Americans who use the accounts to save for retirement.

After several news reports in recent days saying the changes were possible, Trump weighed in on Monday and said no changes would occur. Now the tax writers must look for other areas where they can raise money, and their options appear to be dwindling.

“You are trying to stuff a $4 trillion or $5 trillion tax cut in a $1.5 trillion box,” said Steve Moore, who was one of President Trump’s top economic advisers during the 2016 campaign. “That means something has to give here.”

Senate rules will prevent Republicans from passing a tax bill with a simple majority if it adds to the deficit after 2027. Republicans have already promised not to jettison Americans’ ability to deduct their mortgage interest, charitable contributions, and now income for 401(k) contributions, limiting the number of other changes they could make to raise revenue….

Negotiators have run into huge problems sorting out several of the White House’s promises.

The biggest one is Trump’s insistence on lowering the rate for millions of businesses that pay taxes through the individual income side of the code….

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Waiting for FEMA in Florida and Texas also…

While media attention has been focused on the wanting federal disaster agencies response to Puerto Rico?

The victims from Hurricane Harvey have their own problems….

That IS the story in the two mainland states even as Donald Trump keeps bragging about the ‘good job’ the feds have done there…

Outside Rachel Roberts’s house, a skeleton sits on a chair next to the driveway, a skeleton child on its lap, an empty cup in its hand and a sign at its feet that reads “Waiting on FEMA.”

It is a Halloween reminder that, for many, getting help to recover from Hurricane Harvey remains a long, uncertain journey.

“It’s very frustrating,” said Ms. Roberts, 44, who put together the display after waiting three weeks for the Federal Emergency Management Agency to send someone to look at her flood-damaged home in southwest Houston. “I think it’s beautiful how much we’ve all come together, and that’s wonderful, but I think there’s a lot of mess-ups, too.”

Outside the White House this month, President Trump boasted about the federal relief efforts. “In Texas and in Florida, we get an A-plus,” he said. FEMA officials say that they are successfully dealing with enormous challenges posed by an onslaught of closely spaced disasters, unlike anything the agency has seen in years. But on the ground, flooded residents and local officials have a far more critical view.

According to interviews with dozens of storm victims, one of the busiest hurricane seasons in years has overwhelmed federal disaster officials. As a result, the government’s response in the two biggest affected states — Texas and Florida — has been scattershot: effective in dealing with immediate needs, but unreliable and at times inadequate in handling the aftermath, as thousands of people face unusually long delays in getting basic disaster assistance….

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image….Rachel Roberts with her sons, Troy and Harrison, at their home in Houston. After Hurricanes Harvey and Irma, long delays for assistance from the Federal Emergency Management Agency have frustrated residents. CreditScott Dalton for The New York Times

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US Senate narrowly passes Budget Plan….

Republican Senator’s worked the bill so that they would only need THEIR members simple majority for passage….No Democratic filibuster can stop it…Only Republican Senator Rand Paul voted with the Democrats against the bill…

The media reports are that the math in the spending sets up the Republican effort to pass a Tax Cut bill next which have been pushing for along with Trump…

The bill now goes to the House….

And if passed in the House would be the firsts major legislation the Republicans have voted in since Donald Trump became President….

In Congress, the annual budget resolution provides an outline of federal spending and revenues. The Senate’s blueprint, for the 2018 fiscal year that began Oct. 1, claims to achieve a balanced budget within a decade, assuming greater economic growth and using an accounting method that excludes Social Security. In order to erase projected deficits, it calls for trillions of dollars in spending cuts over the coming decade.

But the cuts exist only on paper, without legislation to achieve them.

Even so, Democrats sounded the alarm, warning that the aspirational cuts in the budget plan called for slicing more than $1 trillion from Medicaid and about $470 billion from Medicare over a decade.

They also lamented the approach that Republicans are taking on taxes, which mirrors the strategy that they employed in their failed effort to repeal the Affordable Care Act. On that matter, Republicans successfully laid the groundwork for a repeal measure that could pass without any Democratic votes, but party leaders could not ultimately get 50 Republican senators to agree on a health bill.

Though Democrats have pleaded to have more say in the tax overhaul, parliamentary language in the budget resolution would allow Republicans to pass a tax bill without any cooperation from the minority party. The tax measure could add as much as $1.5 trillion to budget deficits over a decade.

“Passing this budget is not a requirement for passing tax reform,” said Senator Gary Peters, Democrat of Michigan. “Passing this budget is only a requirement to pass a tax bill with as few votes as possible, without input or buy-in from members of the minority.”

For Republicans, the budget debate provided a moment to showcase their main goal in the coming months: Approving an overhaul of the tax code for the first time in decades, which they hope will lead to greater economic growth.

But before they can move ahead with a tax bill, the House and Senate need to agree on the same budget resolution….

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