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 Greenberg details just what happens when the individual mandate is repealed.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.
The House Speaker said he wants to address spending cuts along with raising the debt limit, even though the White House has ruled out linking those two issues together as the government tries to avoid a potentially devastating financial default.
Newly released video shows the husband of former U.S. House Speaker Nancy Pelosi fighting for control of a hammer with his assailant during a brutal attack in the couple’s San Francisco home last year.
President Joe Biden touted the administration's economic achievements in a Virginia speech, while bashing Republicans for their handling of the nation's debt ceiling.
President Joe Biden has announced that the United States would be delivering 31 Abrams Tanks to Ukraine as the country heads into a new phase of its war against Russia.
