Today: 19.06.2018
News
Opinion
Business
Living
Metro
Tech
Sport

Last News

11:58
Today
11:17
Today
11:09
Today
10:48
Today
10:45
Today
10:25
Today
10:13
Today
10:08
Today
09:38
Today
09:36
Today
09:29
Today
09:14
Today
01:54
Today
01:41
Today
01:15
Today
00:55
Today
00:38
Today
00:13
Today
00:08
Today
23:47
18.06.2018
23:24
18.06.2018
22:36
18.06.2018
22:32
18.06.2018
22:26
18.06.2018
21:02
18.06.2018
20:54
18.06.2018
20:01
18.06.2018
19:51
18.06.2018
19:41
18.06.2018
19:36
18.06.2018

A road map to move the tax cut into law.

House and Senate Republicans are racing to hammer out a tax-cut agreement that blends the House bill passed on Nov. 16 with the Senate version that squeaked through at 2 a.m. Saturday with one vote to spare. Failure is not an option. They must deliver a final bill to the president for signing before Christmas....
Time: 19:56     Date: 05.12.2017
Last US News - Opinion: A road map to move the tax cut into law. NY Post 24 - US News

The stakes are high economically and politically. For too long, America’s uncompetitive corporate-tax rates have suppressed growth and wages, and driven companies to leave the United States.

If Republicans fail on tax reform, they could lose their grip on Congress in the midterm elections. That would leave President Trump without a legislative partner to push through his pro-growth agenda.

Here’s the road map for success: The House should adopt the Senate’s repeal of the ObamaCare penalty, and the Senate should agree to slash corporate taxes as of Jan. 1, 2018, not a year later as the Senate bill currently says. Delaying the corporate tax cuts risks an economic downturn in 2018 and defeat for GOP lawmakers next November.

Senators postponed the corporate-tax cut until 2019 in order to pare $127 billion from the cost of tax reform and stay within Senate rules.

But economist Arthur Laffer warns that delaying the cut will encourage companies to defer production and income for a year so that their profits will be taxed at the lower rate. That could tank the economy in 2018, and take the GOP majority in Congress down with it.

A safer bet to keep the cost of the bill within Senate rules is for GOP senators to embrace the House’s proposal for a $1,600 child tax credit, instead of raising it all the way to $2,000. That compromise would cut $150 billion off the cost.

Doubling the child tax credit to $2,000, as the Senate bill does, and paying for it by delaying corporate tax cuts, is a whopping mistake.

“Yes, everybody likes little kids. But not everyone has them. Only a small segment of the population benefits from that credit,” explains economist Larry Kudlow, a chief architect of the Trump tax plan. “Everyone will benefit” from reducing corporate tax rates immediately. It’ll “create an investment boom. There will be no losers.”

What should the House take from the Senate’s version? According to House majority leader Kevin McCarthy, his members are ready to adopt key Senate provisions, including continuing to allow home-buyers to deduct interest on up to a $1 million mortgage. The House plan caps it at $500,000 mortgages.

Democrats, meanwhile, are claiming that eliminating the penalty — in effect, making ObamaCare voluntary — will spell disaster for millions of people with ObamaCare plans. That’s demagoguery. People who want to stay in ObamaCare won’t lose their subsidy or their eligibility.

But abolishing the penalty will be a big tax break for the 6.7 million filers currently getting whacked for not buying ObamaCare-compliant insurance.

Removing the penalty may cause ObamaCare premiums to rise slightly — the Congressional Budget Office speculates about 10 percent — but most buyers get subsidies that insulate them from premium hikes. Those who don’t will finally have the freedom to buy plans without ObamaCare’s costly requirements and save a bundle on insurance.

As the calendar runs out, House and Senate Republicans will have to compromise on a dozen other differences between their tax bills, including the treatment of medical expenses, interest on student loans, the alternative-minimum tax and gains on selling stock.

There will be winners and losers with each decision. But on balance, Americans will get to keep more of what they earn. And businesses will be encouraged to invest, grow and hire.

Tell the prima donnas and fence-sitters in Congress who failed to repeal ObamaCare that it can’t happen again. The nation needs tax cuts now. Betsy McCaughey is a senior fellow at the London Center for Policy Research.

Opinion

Last US News - Opinion: Don’t put all your anti-climate-change eggs in the electric-car basket. NY Post 24 - US News
Don’t put all your anti-climate-change eggs in the electric-car basket.
Erich Sixt, chairman and chief executive officer of the Pullach, Germany-based global car-rental company that bears his family’s...
Last US News - Opinion: Trump’s negotiating style may not work when it comes to trade. NY Post 24 - US News
Trump’s negotiating style may not work when it comes to trade.
President Trump sure does like his trade wars. And very few people, including me, agree with him on that issue. Last Friday,...
Last US News - Opinion: Greedy gas producers need to bring pump prices back down — now. NY Post 24 - US News
Greedy gas producers need to bring pump prices back down — now.
It’s time for gasoline producers to stop being greedy and bring pump prices back down. I’m already seeing a big price...
Last US News - Opinion: Dwindling donations the latest sign of de Blasio’s education failures. NY Post 24 - US News
Dwindling donations the latest sign of de Blasio’s education failures.
Count it as one more sign of Mayor de Blasio’s failure to keep anything running smoothly: Donations to the Fund for Public...

Opinion

Last US News - Opinion: Don’t put all your anti-climate-change eggs in the electric-car basket. NY Post 24 - US News
Don’t put all your anti-climate-change eggs in the electric-car basket.
Erich Sixt, chairman and chief executive officer of the Pullach, Germany-based global car-rental company that bears his family’s...
Last US News - Opinion: Trump’s negotiating style may not work when it comes to trade. NY Post 24 - US News
Trump’s negotiating style may not work when it comes to trade.
President Trump sure does like his trade wars. And very few people, including me, agree with him on that issue. Last Friday,...
Last US News - Opinion: Greedy gas producers need to bring pump prices back down — now. NY Post 24 - US News
Greedy gas producers need to bring pump prices back down — now.
It’s time for gasoline producers to stop being greedy and bring pump prices back down. I’m already seeing a big price...
Last US News - Opinion: Dwindling donations the latest sign of de Blasio’s education failures. NY Post 24 - US News
Dwindling donations the latest sign of de Blasio’s education failures.
Count it as one more sign of Mayor de Blasio’s failure to keep anything running smoothly: Donations to the Fund for Public...
Last US News - Opinion: How Trump can end the family-separation mess and still win. NY Post 24 - US News
How Trump can end the family-separation mess and still win.
The separation of families on the border is a punishment grossly disproportionate to the offense. The Border Patrol keeps...

Living

US Living News: Tween calls 911 after parents serve him salad. NY Post 24 - US News
Tween calls 911 after parents serve him salad.
This kid really hates salad. A 12-year-old boy from Halifax, Nova Scotia was so unhappy when his parents served him up a...
US Living News: Virtual reality ‘Sex and the City’ porn parody is appropriately bananas. NY Post 24 - US News
Virtual reality ‘Sex and the City’ porn parody is appropriately bananas.
Happy 20th birthday, “Sex and the City!” This is what the world got you: A four-episode porn spoof featuring...
US Living News: Artist emerges from tomb after being buried alive for three days. NY Post 24 - US News
Artist emerges from tomb after being buried alive for three days.
The 73-year-old buried alive in a steel container under a busy street in Tasmania, Australia silently emerged after three...
US Living News: Smoking in the US is at an all-time low. NY Post 24 - US News
Smoking in the US is at an all-time low.
Smoking in the U.S. has hit another all-time low. About 14 percent of U.S adults were smokers last year, down from about...
US Living News: Portuguese airport replaces infamous Cristiano Ronaldo bust. NY Post 24 - US News
Portuguese airport replaces infamous Cristiano Ronaldo bust.
The infamous bust of Cristiano Ronaldo has been replaced with one that actually looks like the soccer superstar. The original...
US Living News: This is every country’s top-rated activity. NY Post 24 - US News
This is every country’s top-rated activity.
A list of the top-rated things to do in every single country in the world on TripAdvisor has been released — and some of...
US Living News: The Maldives is an underwater honeymoon paradise. NY Post 24 - US News
The Maldives is an underwater honeymoon paradise.
It’s pretty hard to locate the Maldives on a map. Google it, and you’re shown just a vast expanse of Indian Ocean with...
US Living News: One-handed fighter is battling his way into the UFC. NY Post 24 - US News
One-handed fighter is battling his way into the UFC.
What a difference six years make. In 2012, Dana White made it clear that Nick Newell — a one-handed mixed martial arts...

Business

Last US Business News: Ex-Fed chief warns of ‘subterfuge’ to protect banks. NY Post 24 - US News
Ex-Fed chief warns of ‘subterfuge’ to protect banks.
One of the primary architects of Obama-era Wall Street regulations warned on Tuesday that the Trump administration is attempting...
Last US Business News: Markets dive in wake of Trump’s latest China tariff threat. NY Post 24 - US News
Markets dive in wake of Trump’s latest China tariff threat.
Global stock markets fell Tuesday after President Donald Trump threatened to put tariffs on another $200 billion in imports...
Last US Business News: CVS to roll out home prescription delivery nationwide. NY Post 24 - US News
CVS to roll out home prescription delivery nationwide.
CVS Health will make prescription deliveries nationwide to accommodate the heightened expectations of convenience from consumers....
Last US Business News: Danny Meyer plans to ban cash at more of his restaurants. NY Post 24 - US News
Danny Meyer plans to ban cash at more of his restaurants.
Danny Meyer plans to ban cash at more of his eateries. The celebrity restaurateur and co-founder of Shake Shack said the...
Last US Business News: Phil Mickelson invests in futuristic frozen yogurt chain. NY Post 24 - US News
Phil Mickelson invests in futuristic frozen yogurt chain.
Pro golfing great Phil Mickelson and his business partner Steve Loy have just inked a deal to open 30 Reis & Irvy’s...
Last US Business News: We can thank Trump’s tax cuts for economic growth this quarter. NY Post 24 - US News
We can thank Trump’s tax cuts for economic growth this quarter.
One thing that the president has going for him is the fact that the US economy seems to have picked up nicely in the second...
Last US Business News: Toys ‘R’ Us says more than 115 companies interested in brand. NY Post 24 - US News
Toys ‘R’ Us says more than 115 companies interested in brand.
As Toys ‘R’ Us fades to black, scores of businesses are scrambling to keep it alive. The bankrupt retailer says that...
Last US Business News: More and more companies are dumping their corporate jets. NY Post 24 - US News
More and more companies are dumping their corporate jets.
Message to jet-setting CEOs: it may be wheels down until your bottom line improves. Rent-A-Center, which faced pressure from...

Metro

Metro News: Parking spot fight turns medieval when driver pulls out sword. NY Post 24 - US News
Parking spot fight turns medieval when driver pulls out sword.
A squabble over a parking spot turned downright medieval, when an edgy driver attacked a man with a sword in New Jersey,...
Metro News: Driver with head full of racist tattoos gets into car accident with deliveryman on bike. NY Post 24 - US News
Driver with head full of racist tattoos gets into car accident with deliveryman on bike.
A man with a head full of racist tattoos — including one that reads “AM A PSYCHOTIC NEO NAZI SERIAL KILLER SKIN HEAD...
Metro News: Battle for estate of principal accused in cheating scandal takes strange turn. NY Post 24 - US News
Battle for estate of principal accused in cheating scandal takes strange turn.
A Harlem principal accused in a cheating scandal killed herself by jumping in front of a train in 2015, leaving her estranged...
Metro News: Hoarder dies after cluttered home bursts into flames. NY Post 24 - US News
Hoarder dies after cluttered home bursts into flames.
An elderly woman known to neighbors as a “classic hoarder” was killed Monday night when flames engulfed her cluttered,...
Metro News: Cat sanctuary struggling to provide care after water shut off. NY Post 24 - US News
Cat sanctuary struggling to provide care after water shut off.
A cat fight is raging over water on Roosevelt Island. Operators of a feline sanctuary say they are struggling to care for...
Metro News: Cuomo orders parole officers to help eligible ex-cons register to vote. NY Post 24 - US News
Cuomo orders parole officers to help eligible ex-cons register to vote.
Gov. Cuomo is bending way over backward to get convicted felons to vote — now ordering parole officers to give registration...
Metro News: Brooklyn president turns on school testing plan after donor backlash. NY Post 24 - US News
Brooklyn president turns on school testing plan after donor backlash.
Brooklyn Borough President Eric Adams quietly reversed his support for eliminating the Specialized High Schools Admissions...
Metro News: Some schools had to close due to extreme heat. NY Post 24 - US News
Some schools had to close due to extreme heat.
New York City is packing heat. Temps climbed to an unbearable 95 degrees Monday, making it the hottest June 18 since 1929...

Sport

Last US Sport News: Trae Young sees the Knicks upside of a draft slip. NY Post 24 - US News
Trae Young sees the Knicks upside of a draft slip.
Point guard Trae Young said falling to nine in Thursday’s draft can still be “a great situation” because he would...
Last US Sport News: Nate Robinson: Larry Brown bullied me to tears. NY Post 24 - US News
Nate Robinson: Larry Brown bullied me to tears.
Most Knicks have positive memories of Nate Robinson, the diminutive point guard who spent five seasons with the team until...
Last US Sport News: Neymar limps off and sets off Brazil alarms. NY Post 24 - US News
Neymar limps off and sets off Brazil alarms.
Brazil forward Neymar left training early on Tuesday after feeling pain in his right ankle and will spend the rest of the...
Last US Sport News: Enes Kanter ironically has a LeBron plan. NY Post 24 - US News
Enes Kanter ironically has a LeBron plan.
Enes Kanter is pleading for a reason to take a paycut. The center knows it’s a pipe dream, but it’s a pipe dream...
Last US Sport News: Falcons worried over Julio Jones-Terrell Owens friendship. NY Post 24 - US News
Falcons worried over Julio Jones-Terrell Owens friendship.
The Falcons’ front office isn’t thrilled with Julio Jones’ offseason activities. The explosive receiver,...