Politics: Trump reverses course on new tax cuts - PressFrom - US
  •   
  •   
  •   

PoliticsTrump reverses course on new tax cuts

22:05  21 august  2019
22:05  21 august  2019 Source:   cnbc.com

13 states file lawsuit over Trump 'public charge' rule

13 states file lawsuit over Trump 'public charge' rule Thirteen states led by Washington Attorney General Robert Ferguson (D) filed a lawsuit Wednesday over the Trump administration's new "public charge" rule.The states are suing the Department of Homeland Security over the new rule that expands the government's ability to deny entry or green cards for legal immigrants based on their use of public services like food stamps and Medicaid. The rule, announced Monday, is set to go into effect on Oct. 15. Wednesday's lawsuit, co-led by Virginia Attorney General Mark Herring, is the first to be filed by states against the rule and the second overall challenge since the government rolled out the rule.


Trump reverses course on new tax cuts© Provided by CNBC LLC President Donald Trump speaks to the media as he departs the White House in Washington, DC, on August 21, 2019.

President Donald Trump insisted Wednesday that his administration will not cut taxes to turn aside an economic slowdown — only a day after he said he would consider tax policy changes.

It follows several days of mixed messaging from the White House on whether it would respond to growing concerns about a potential recession. Trump has spent the week arguing the U.S. has the strongest economy in the world — while urging the Federal Reserve to chop interest rates, a step typically taken during cycles of economic weakness.

EPA reverses approval for 'cyanide bombs' used to kill wildlife

EPA reverses approval for 'cyanide bombs' used to kill wildlife In a surprising reversal, the Environmental Protection Agency announced on Thursday it is walking back a recent decision to reauthorize use of M-44s, also known as "cyanide bombs," to kill coyotes, foxes, and other wild animals. M-44s are spring-loaded traps filled with sodium cyanide, which Wildlife Services officials use when they kill animals for ranchers and farmers. Last year, the federal agency killed more than 1.5 million animals, with about 6,500 dying because of M-44s. These traps have also killed pets and injured people who stumbled upon them.

A White House official first denied a report Monday that the administration would consider a payroll tax reduction. By Tuesday, Trump said he was "thinking about" cutting the levies — though he stressed that "whether or not we do something now, it's not being done because of a recession."

But the president backtracked on Wednesday, tamping down talk about either trimming payroll taxes or indexing capital gains to inflation. Trump's comments continue the president and his administration's struggle to clarify whether and how it would change U.S. tax policy in the face of recession fears.

"I'm not looking at a tax cut now. We don't need it. We have a strong economy," the president told reporters on the White House lawn when asked if would consider a payroll tax cut.

Senator Graham, close Trump ally, joins opponents to planned U.S. foreign aid cuts

Senator Graham, close Trump ally, joins opponents to planned U.S. foreign aid cuts Senator Lindsey Graham and Representative Hal Rogers urged President Donald Trump on Friday to drop planned "sweeping and indiscriminate" foreign aid cuts, joining a chorus of lawmakers opposing what they consider a bid to sidestep Trump's own budget deal. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); Trump administration officials have said they are reviewing State Department and U.S. Agency for International Development spending with an eye to using a budget process known as "rescission" to slash some $4.

Only Tuesday, Trump said he was "thinking about" indexing capital gains to inflation — a move generally expected to reduce the tax burden on wealthy people. But he added he was "not talking about doing anything at this moment."

On Wednesday, he criticized the proposal, saying "it's not something I love."

Related video: Professor says a payroll tax cut would create a 'huge headache' for Trump

"It's probably better for the high-income people, and I'm not looking to do that. I want to do for the workers," the president said.

The comments Wednesday show a president fixated on maintaining the strength of the U.S. economy, while eager to push the blame for any potential downturn to others. He hammered Fed Chairman Jerome Powell several times Wednesday for hiking interest rates in 2017 and 2018, comparing him to a golfer "who can't putt."

He also made the unfounded claim that media outlets are "trying to convince the public to have a recession."

Trump lamented that his predecessor President Barack Obama oversaw the economy when the Fed had set near-zero interest rates — an emergency response during the recovery from the 2008 financial crisis.

"Despite that, I have a much stronger economy," he said.

Subscribe to CNBC on YouTube.

Read More

Fed rejects former policymaker's call to deny Trump rate cuts.
Fed rejects call to deny Trump rate cuts; Trump keeps up pressure

—   Share news in the SOC. Networks

Topical videos:

usr: 2
This is interesting!