Page 6 - Florida Sentinel 10-17-17

White House And Political News
Tax Reform Bill Will Be Voted On On Christmas Eve; If Passed Will Hurt Homeowners
Donald Trump Is Becoming
A Lone Walker: 55%
Disapprove Of Job He Is Doing
A top House Republican on last Wednesday predicted Con- gress would vote to pass a tax bill on Dec. 24, saying the ef- fort to overhaul the tax code would go down to the wire.
Rep. Patrick McHenry
(R-N.C.), the House GOP chief deputy whip, said he expected both the House and Senate to finish work on a tax revamp bill on Christmas Eve.
GOP lawmakers and ad- ministration officials have pledged to enact a bill to cut in- dividual and business tax rates, broaden the tax base and make the tax code simpler by the end of 2017.
Republicans are eager to make the most sweeping changes to the tax code since 1986 and are desperate to prove their ability to pass major legislation with unified control of the government.
According to Forbes, home- owners will be hurt by bill. Currently in 2017, the standard deduction is $6,350 for an in- dividual filer and $12,700 for a joint filer. Therefore, the first $12,700 of income for a family is in essence not taxed, as that same amount can be deducted.
According to The Hill, a Morning Consult poll released last week found President Donald Trump losing sup- port in states he easily carried last year.
He is down 23 points in Tennessee since his inaugura- tion in January; down 21 points in Mississippi; down 20 in Kentucky; down 19 in Kansas; and down 17 in Indi- ana.
Overall, 55 percent of the country disapproves of the job he is doing as president, ac- cording to the most recent Real Clear Politics average. At the three-quarter mark of his first year in office, Trump is the least popular new presi- dent in history.
On Capitol Hill, House and Senate Republicans are also walking away from Trump.
In part, this is due to his at- tacks on Senate Majority Leader Mitch McConnell (R-Ky.) and Speaker Paul Ryan (R-Wis.).
Then there are the threats to incumbent Republicans from Steve Bannon, for- merly Trump’s chief strate- gist.
Bannon said last week he plans to challenge incumbent Republican senators in seven states, including Arizona’s Jeff Flake; Mississippi’s Roger Wicker; Nebraska’s Deb Fischer; Nevada’s Dean Heller and Wyoming’s John Barrasso.
“Creating a civil war inside the Republican Party may feel good, but I think as a strategy, it is stunningly stupid,” former Speaker Newt Gingrich (R- Ga.) said of Bannon’s plan.
Instead, Trump has whipped up a very public feud with Senate Foreign Relations
Tax reform is a bill Republicans are hoping they will finally get passed after many failures. Known as ‘The Big 6’, tax reform will hurt homeowners.
President Donald Trump is said to be walking alone on many fronts due to his tweets and revenge tactics against his own party.
Committee chairman Bob Corker (R-Tenn.).
Trump tweeted that Corker lacks “the guts” to seek reelection. Trump also belittled Corker as having “begged” for his endorsement.
Corker denied that, shoot- ing back that it is a “shame the White House has become an adult day care center.” He added that Trump has hurt U. S. foreign relations with his impetuous tweets on world af- fairs, including “things that are not true.”
Rather than let it go, Trump responded by tweet- ing: “The Failing @nytimes set Liddle' Bob Corker up by recording his conversation. Was made to sound a fool, and that's what I am dealing with!”
Corker was not “set up” by the Times. A transcript showed the senator stating, “I understand we’re on the record.”
Now, commentators who are open to Trump are start- ing to walk away from his pa- rade as well.
In addition, the family also applies personal exemptions of around $4,000 per person. A family of four would also get additional $16,000 off their in- come on top of the $12,700 be- fore facing tax brackets. This means that essentially the first $28,700 is tax-free income for this family of four. Tax rates kick in on incomes greater than that amount.
The proposed tax reform plan – known in Washington as the “Big 6”– the standard deduction almost doubles: $12,000 for individual filers and $24,000 for joint filers. However, personal exemptions
and property tax deductions go away.
Unless the family con- tributes a huge amount to charity (in excess of $16,000) - then the standard deduction would make more sense than trying to deduct mortgage in- terest plus charity.
Our calculations for home- owners in the income range of $50,000 to $200,000 is that they would face a tax hike of over $800. If there are more children in the family then the outcome will be worse, as there will no longer be any tax relief from bringing additional chil- dren into the family.
Pres. Trump Signs Executive Order To Change Obamacare
President Trump health care executive order is designed to increase competition and choice. But it would also deal a major blow to the health of Obamacare.
The president claims his ac- tion would give millions of Americans more access to af- fordable coverage.
But critics argue it could lure younger, healthier con- sumers away from Obamacare with cheaper, but skimpier poli- cies, while leaving sicker folks to pay higher premiums on the exchanges.
Many industry and con- sumer groups, including the American Cancer Society and the American Hospital Associa- tion, voiced concerns about
On Oct. 15, members of both parties had sharp words on the executive order on health-care President Trump signed on Oct. 13 and called for Congres- sional action. Trump signed executive order on Friday.
Trump's move.
The executive order will
allow health insurance plans that cover fewer benefits and
offer fewer consumer protec- tions," Tom Nickels, execu- tive vice president of the hospital group, said in a state- ment Thursday. "In addition, these provisions could destabi- lize the individual and small group markets, leaving millions of Americans who need com- prehensive coverage to manage chronic and other pre-existing conditions, as well as protection against unforeseen illness and injury, without affordable op- tions.”
Nothing is likely to happen immediately. It could take months for the administration to craft new regulations and guidance to carry out the order. And, Trump’s ability to act is constrained by the law.
300 Dead In Truck Bombing In Somalia
MOGADISHU, Somalia (AP) — The death toll from Saturday’s truck bombing in Somalia’s capital is now over 300, the director of an ambu- lance service said Monday, as this country reeled from the deadliest single attack it’s ever experienced.
More people have died of their wounds in the past few hours, said Dr. Abdulkadir Adam of Aamin Ambulance. Funerals have continued and the government said the death toll is expected to rise.
Truck bombing in Somalia’s capital killed 300 people.
Saturday’s truck bombing targeted a crowded street in Mogadishu, and about 300 others were injured. Soma-
lia’s government is blaming the al-Qaida-linked al- Shabab extremist group, which has not commented.
PAGE 6 FLORIDA SENTINEL BULLETIN PUBLISHED EVERY TUESDAY AND FRIDAY TUESDAY, OCTOBER 17, 2017