Jon Greenberg, staff writer for Politifact, breaks down some of the rhetoric from the left and the right around the GOP tax reform bill.
Chris Ruddy of Newsmax claimed that the GOP bill would bring in $3 trillion of offshore funds back into the economy from large U.S. corporations receiving a tax cut overseas. But just how true is this? Politifact has rated the statement half true. Greenberg notes that while corporations are receiving a reduction in overseas taxes, 45% of the $3 trillion made overseas is already in the U.S.
Greenberg also weighs in on House Minority Leader Nancy Pelosi's statement that the GOP bill would "sabotage" the healthcare of 13 million Americans. Greenberg details just what happens when the individual mandate is repealed. He explains that the repeal of the individual mandate will cause healthy people to leave the marketplace, which will cause costs to go up for those that are sick. That means some of those people won't be able to afford health insurance anymore. Politifact's overall rating of Pelosi's statement: half true.
Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden's desk to become law before the fast-approaching deadline.
He wasn't hurt and later joked that he "got sandbagged."
Canada will soon become the first country in the world where warning labels must appear on individual cigarettes.
Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair.
Centrist Democrats and Republicans pushed it to approval over blowback from conservatives and some progressives. The Senate is expected to act quickly by the end of the week.
The Oklahoma Supreme Court ruled on Wednesday that two state laws banning abortion are unconstitutional, but the procedure remains illegal in the state in nearly all cases except life-threatening situations.
A New York City police officer is speaking out against the use of “courtesy cards” by friends and relatives of his colleagues on the force, accusing department leaders of maintaining a sprawling system of impunity that lets people with a connection to law enforcement avoid traffic tickets.
A Pennsylvania restaurant owner who screamed death threats directed at then-House Speaker Nancy Pelosi while storming the U.S. Capitol was sentenced on Tuesday to more than two years in prison.
Hard-fought to the end, the debt ceiling and budget cuts package is heading toward a crucial U.S. House vote as President Joe Biden and Speaker Kevin McCarthy assemble a coalition of centrist Democrats and Republicans to push it to passage over fierce blowback from conservatives and some progressive dissent.
The Republican speaker urged GOP skeptics Tuesday to look at “the victories” in the package he negotiated with President Joe Biden.
