Senate Releases Modified Tax Plan That Includes Repealing Individual Mandate; Trump Boasts About 50 Percent Approval Rating

Yesterday Senate Finance Committee Chairman Orrin Hatch (R-Utah) released a modified chairman’s markup of the House version of tax reform that includes a modified mark to repeal the individual mandate of the Affordable Care Act or Obamacare.

Chairman Hatch described the removal of the individual mandate along the lines of easing financial burdens on Americans.

“By scrapping this unpopular tax from an unworkable law, we not only ease the financial burdens already associated with the mandate, but also generate additional revenue to provide more tax relief to these individuals” said Chairman Orrin Hatch.

On November 8th the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) released a new updated assessment of a future repeal of the individual mandate which shows that a repeal would reduce federal deficits by about $338 billion from 2018–2027 and increase the number of uninsured Americans by 4 million in 2019 and 13 million in 2027.

Under the modified mark, the child tax credit doubles from the current $1,000 to $2,000 while individual tax rates for middle-income Americans are lowered from the current rate of 22.5 percent to 22 percent, 25 percent to 24 percent, and 32.5 to 32 percent.

Trump Boasts His Poll Numbers Could Be In The 50’s While Offering No Proof

Yesterday President Trump gave a critical tweet stating that the “fake news media” likes to say that his presidential approval numbers are in the 30’s and claimed that some people think the numbers could be in the 50’s, although he offered no proof.

“One of the most accurate polls last time around. But #FakeNews likes to say we’re in the 30’s. They are wrong. Some people think numbers could be in the 50’s. Together, WE will MAKE AMERICA GREAT AGAIN!” President Trump tweeted.

Although one Rasmussen poll taken from 11/9- 11/13 shows President Trump with a 46 percent approval rating, the Real Clear politics average of all major presidential approval polls taken over a longer stretch from 10/26- 11/13 shows President Trump with a 38.1 percent approval rating.

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

 

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