Kevin McCarthy wants to work with House Democrats on infrastructure, taxes

The House passed three separate bills earlier this year as part of a second wave of tax reform. The most notable proposal made individual tax reductions passed last year permanent. Meanwhile, key members of both parties, including President Donald Trump and House Democratic leader Nancy Pelosi, have expressed a desire to pass a plan to revamp U.S. infrastructure. “That’s going to be the real hang-up when it comes to infrastructure — how do we pay for it?” During his “Squawk Box” appearance, McCa


The House passed three separate bills earlier this year as part of a second wave of tax reform. The most notable proposal made individual tax reductions passed last year permanent. Meanwhile, key members of both parties, including President Donald Trump and House Democratic leader Nancy Pelosi, have expressed a desire to pass a plan to revamp U.S. infrastructure. “That’s going to be the real hang-up when it comes to infrastructure — how do we pay for it?” During his “Squawk Box” appearance, McCa
Kevin McCarthy wants to work with House Democrats on infrastructure, taxes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: jacob pramuk, chip somodevilla, getty images
Keywords: news, cnbc, companies, kevin, mcconnell, trump, house, work, pay, infrastructure, passed, senate, taxes, pelosi, mccarthy, wants, democrats, tax


Kevin McCarthy wants to work with House Democrats on infrastructure, taxes

The House passed three separate bills earlier this year as part of a second wave of tax reform. The most notable proposal made individual tax reductions passed last year permanent. Senate Majority Leader Mitch McConnell has said he will take the bills if he sees support for them. The GOP will hold at least 51 seats, and likely more, in the Senate in January.

Meanwhile, key members of both parties, including President Donald Trump and House Democratic leader Nancy Pelosi, have expressed a desire to pass a plan to revamp U.S. infrastructure. However, they will have a tough time agreeing on how to pay for the overhauls. Democrats will likely push for more public funding than Republicans want. McConnell said Wednesday that there’s no interest in his caucus for an expensive infrastructure plan.

McCarthy also expressed concerns Thursday about striking a deal on funding an infrastructure proposal.

“That’s going to be the real hang-up when it comes to infrastructure — how do we pay for it?” he asked.

During his “Squawk Box” appearance, McCarthy also repeatedly and falsely contended that Democrats will only focus on investigating Trump, securing his tax returns and attempting impeachment. While Democrats have called for investigations into various parts of the Trump administration, the vast majority of them have avoided any talk of impeachment.

They also ran on proposals including shoring up the Affordable Care Act, lowering prescription drug prices, strengthening gun background checks and reducing corruption in government. Pelosi — the front-runner to become the next speaker of the House despite some opposition within her party — has called those policies her priority in January.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: jacob pramuk, chip somodevilla, getty images
Keywords: news, cnbc, companies, kevin, mcconnell, trump, house, work, pay, infrastructure, passed, senate, taxes, pelosi, mccarthy, wants, democrats, tax


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Commerce Secretary Wilbur Ross says the economy’s success depends on infrastructure

The strong U.S. economy’s continued success depends largely on infrastructure, Commerce Secretary Wilbur Ross said Tuesday. “I think a lot will have to do with whether infrastructure gets the kind of treatment that it really deserves.” The administration’s “Infrastructure Week” theme also became the butt of jokes. He said Tuesday that he would serve as long as the president wants, and that he’s seen no indication that his time is short. Last week, CNBC reported, citing sources close to the presi


The strong U.S. economy’s continued success depends largely on infrastructure, Commerce Secretary Wilbur Ross said Tuesday. “I think a lot will have to do with whether infrastructure gets the kind of treatment that it really deserves.” The administration’s “Infrastructure Week” theme also became the butt of jokes. He said Tuesday that he would serve as long as the president wants, and that he’s seen no indication that his time is short. Last week, CNBC reported, citing sources close to the presi
Commerce Secretary Wilbur Ross says the economy’s success depends on infrastructure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kevin breuninger, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, president, york, wilbur, success, question, trump, infrastructure, commerce, week, economys, wants, secretary, ross, strong, depends


Commerce Secretary Wilbur Ross says the economy's success depends on infrastructure

The strong U.S. economy’s continued success depends largely on infrastructure, Commerce Secretary Wilbur Ross said Tuesday.

“Corporate earnings certainly have been very, very strong. there’s no question about that. And it’s also no question that market’s job is to look ahead,” Ross said. “I think a lot will have to do with whether infrastructure gets the kind of treatment that it really deserves.”

Ross, speaking at the Yahoo Finance All Markets Summit in Washington, was asked whether the prospect of diminished corporate earnings in the near future will be a drag on the economy. He added that the only real obstacle to passing an infrastructure bill is its funding.

“As you know, [the] president is very keen to have an infrastructure program, and the only real issue is how do you pay for it. How much does the federal government do, how much is done by [the] private sector,” Ross said.

The concept of an executive-level infrastructure push has itself become a bit of a laughing matter to critics. In February, President Donald Trump proposed spending $200 billion in a bid to coax $1.5 trillion in infrastructure investing mainly from state and local governments, as well as private entities, but the plan went nowhere.

The administration’s “Infrastructure Week” theme also became the butt of jokes.

Yet Democratic leaders, such as potential next House Speaker Nancy Pelosi, and Trump have suggested there could be common ground on a potential infrastructure package. The political calculus is tricky, however, for both parties. Neither side wants to give the other a win heading in to the 2020 presidential election year, and hyperpartisans in either party may well resist passing any compromise legislation.

The Cabinet secretary’s remarks came amid an ongoing trial over the inclusion of a question on the 2020 Census asking about the respondent’s citizenship. Critics — including New York state, which is suing the Commerce Department — say the question could limit participation among immigrant communities, leading to their under-representation on official government statistics.

Ross has said that he recalled discussing the question withTrump’s former advisor Steve Bannon, The New York Times reported in October.

Ross also addressed chatter that he might be on his way out of the Trump administration. He said Tuesday that he would serve as long as the president wants, and that he’s seen no indication that his time is short.

Last week, CNBC reported, citing sources close to the president, that Trump has been telling people he wants to replace Ross as Commerce secretary by the end of the year.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kevin breuninger, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, president, york, wilbur, success, question, trump, infrastructure, commerce, week, economys, wants, secretary, ross, strong, depends


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Kudlow says White House looking at infrastructure plan, including energy pipelines, LNG terminals

PresidentDonald Trump’s administration is looking at a multifaceted infrastructure plan, according to top White House economic advisor Larry Kudlow on Tuesday. “We are looking at infrastructure in many different ways,” Kudlow said on CNBC’s “Squawk on the Street.” “I’d like to do anything that will help LNG, terminals, shipping. There are early signs that European leaders would be willing to support the building of liquefied natural gas, or LNG, import terminals. The U.S. is also urging Europe t


PresidentDonald Trump’s administration is looking at a multifaceted infrastructure plan, according to top White House economic advisor Larry Kudlow on Tuesday. “We are looking at infrastructure in many different ways,” Kudlow said on CNBC’s “Squawk on the Street.” “I’d like to do anything that will help LNG, terminals, shipping. There are early signs that European leaders would be willing to support the building of liquefied natural gas, or LNG, import terminals. The U.S. is also urging Europe t
Kudlow says White House looking at infrastructure plan, including energy pipelines, LNG terminals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: michael sheetz
Keywords: news, cnbc, companies, plan, gas, natural, house, looking, europe, trump, infrastructure, including, european, lng, kudlow, white, terminals, pipelines


Kudlow says White House looking at infrastructure plan, including energy pipelines, LNG terminals

PresidentDonald Trump’s administration is looking at a multifaceted infrastructure plan, according to top White House economic advisor Larry Kudlow on Tuesday.

“We are looking at infrastructure in many different ways,” Kudlow said on CNBC’s “Squawk on the Street.”

“I’d like to do energy infrastructure. I’d like to do pipeline,” Kudlow said. “I’d like to do anything that will help LNG, terminals, shipping. We’d like to revise the U.S. shipping industry, which has been dormant for many years. We’d like to export oil, natural gas to Europe and to Asia.”

There are early signs that European leaders would be willing to support the building of liquefied natural gas, or LNG, import terminals. New terminals could lead to an increase of American LNG exported to the continent. Trump met with European Commission president Jean-Claude Juncker in July, and boosting natural gas trade was one of the top issues.

“They want LNG, they want it badly, and we’re going to do everything we can to accommodate them,” Kudlow said.

As the U.S. continues trade talks with Europe, the Trump administration has continued to push its European allies to import more LNG. The U.S. is also urging Europe to reduce its reliance on Russian state-controlled companies for natural gas transported by pipeline. Russia dominates Europe’s supply of natural gas. But the U.S. is making some early inroads into the European market, as the German government offered support to build an LNG terminal in northern Germany.

Trump has made infrastructure a priority in domestic politics as well. A day after the 2018 midterm elections, Trump said he hopes to work with congressional Democrats on infrastructure. Members of both the Republican and Democratic parties have called for improvements to the country’s aging bridges, roads and airports.

WATCH: CNBC’s full interview with White House advisor Larry Kudlow


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: michael sheetz
Keywords: news, cnbc, companies, plan, gas, natural, house, looking, europe, trump, infrastructure, including, european, lng, kudlow, white, terminals, pipelines


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

If Trump and Democrats get serious about an infrastructure bill, these stocks should benefit

Investors should buy materials companies like Nucor and Vulcan Materials if U.S. lawmakers move forward with any infrastructure plans, according to Jefferies. Sean Darby, the bank’s chief global equity strategist, wrote his note after the U.S. midterm elections, which ended with Republicans keeping control of the Senate and Democrats gaining a majority in the House. “Public spending on infrastructure (transportation and water) as a share of GDP is near all-time lows (2.3%). The S&P 500 materials


Investors should buy materials companies like Nucor and Vulcan Materials if U.S. lawmakers move forward with any infrastructure plans, according to Jefferies. Sean Darby, the bank’s chief global equity strategist, wrote his note after the U.S. midterm elections, which ended with Republicans keeping control of the Senate and Democrats gaining a majority in the House. “Public spending on infrastructure (transportation and water) as a share of GDP is near all-time lows (2.3%). The S&P 500 materials
If Trump and Democrats get serious about an infrastructure bill, these stocks should benefit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: fred imbert, timothy d easley
Keywords: news, cnbc, companies, wrote, trump, bill, forward, serious, democrats, house, nucor, benefit, vulcan, transportation, strategist, infrastructure, stocks, materials


If Trump and Democrats get serious about an infrastructure bill, these stocks should benefit

Investors should buy materials companies like Nucor and Vulcan Materials if U.S. lawmakers move forward with any infrastructure plans, according to Jefferies.

Sean Darby, the bank’s chief global equity strategist, wrote his note after the U.S. midterm elections, which ended with Republicans keeping control of the Senate and Democrats gaining a majority in the House. This government setup makes it harder for the government to move significantly forward on a number of issues. However, leaders from both parties have signaled they are willing to work together on infrastructure, opening the door for a bipartisan bill to move forward in Washington.

“This is a logical time to address the many US infrastructure deficiencies that have become an impediment to a variety of economic activities in the US, most notably transportation,” Darby, the bank’s chief global equity strategist, wrote on Monday. “Public spending on infrastructure (transportation and water) as a share of GDP is near all-time lows (2.3%). Higher infrastructure spending would help US competitiveness and the associated jobs created would also help the economy.”

Senate Majority Leader Mitch McConnell said last week he and Democratic House Rep. Nancy Pelosi talked about bipartisan cooperation on infrastructure. On Tuesday, White House economic advisor Larry Kudlow said the Trump administration is looking into a multifaceted infrastructure plan that would improve the U.S. shipping industry and energy pipelines.

The S&P 500 materials sector, which includes Nucor and Vulcan Materials, traded more than 0.6 percent higher following Kudlow’s comments. The industrials sector, which is also made up of several infrastructure-related companies, rose 1 percent on Tuesday.

Darby included Nucor and Vulcan in Jefferies’ “Shifting Sands” basket, which tracks infrastructure stocks. The basket also includes Reliance Steel, United Rentals and Commercial Metals, among others. These stocks have underperformed the broader market in 2018. All of them except for Nucor are down for the year, while the S&P 500 is up 2.3 percent.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: fred imbert, timothy d easley
Keywords: news, cnbc, companies, wrote, trump, bill, forward, serious, democrats, house, nucor, benefit, vulcan, transportation, strategist, infrastructure, stocks, materials


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Australia: We welcome Chinese investments despite concerns about a pending gas deal

Australia remains open to Chinese investments regardless of whether Canberra blocks an acquisition of a major energy company by a Hong Kong-led consortium, Australian Treasurer Josh Frydenberg told CNBC on Friday. Earlier this year, a consortium led by Hong Kong property developer CK Infrastructure — owned by billionaire Li Ka-shing — offered a $9.4 billion takeover bid for APA Group, Australia’s leading energy infrastructure business. The deal would be “contrary to the national interest,” Fryde


Australia remains open to Chinese investments regardless of whether Canberra blocks an acquisition of a major energy company by a Hong Kong-led consortium, Australian Treasurer Josh Frydenberg told CNBC on Friday. Earlier this year, a consortium led by Hong Kong property developer CK Infrastructure — owned by billionaire Li Ka-shing — offered a $9.4 billion takeover bid for APA Group, Australia’s leading energy infrastructure business. The deal would be “contrary to the national interest,” Fryde
Australia: We welcome Chinese investments despite concerns about a pending gas deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: nyshka chandran, fairfax media fairfax media via getty images
Keywords: news, cnbc, companies, gas, hong, investments, welcome, deal, key, transmission, consortium, concerns, infrastructure, despite, company, australia, chinese, pending, energy, frydenberg


Australia: We welcome Chinese investments despite concerns about a pending gas deal

Australia remains open to Chinese investments regardless of whether Canberra blocks an acquisition of a major energy company by a Hong Kong-led consortium, Australian Treasurer Josh Frydenberg told CNBC on Friday.

Earlier this year, a consortium led by Hong Kong property developer CK Infrastructure — owned by billionaire Li Ka-shing — offered a $9.4 billion takeover bid for APA Group, Australia’s leading energy infrastructure business.

The deal would be “contrary to the national interest,” Frydenberg said in a statement released Wednesday. Speaking to CNBC on Friday, Frydenberg said his preliminary view was “not about a particular company or country.”

The judgement call was based on “what the implications would be for Australia were we to see a concentration of foreign ownership by a sole company in such a key set of assets as is the gas transmission sector,” Frydenberg stated.

“APA is a unique company, with more than 50 percent of the gas transmission business in Australia, more than 15,000 pipelines supplying gas and electricity into key markets,” he added.

The company holds approximately $20 billion of energy assets and delivers half the nation’s natural gas usage, according to the company.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: nyshka chandran, fairfax media fairfax media via getty images
Keywords: news, cnbc, companies, gas, hong, investments, welcome, deal, key, transmission, consortium, concerns, infrastructure, despite, company, australia, chinese, pending, energy, frydenberg


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

To counter China, Australia plans $1.5 billion Pacific infrastructure fund

Australia will create a A$2 billion ($1.46 billion) fund to provide loans to Pacific nations to build infrastructure, Prime Minister Scott Morrison is expected to announce on Thursday, as Canberra seeks to counter China’s influence in the region. Australia and China have been vying for influence in sparsely populated Pacific island countries that control vast swathes of resource-rich oceans. To counter, Morrison plans to announce that Australia will renew its focus on the Pacific, primarily thro


Australia will create a A$2 billion ($1.46 billion) fund to provide loans to Pacific nations to build infrastructure, Prime Minister Scott Morrison is expected to announce on Thursday, as Canberra seeks to counter China’s influence in the region. Australia and China have been vying for influence in sparsely populated Pacific island countries that control vast swathes of resource-rich oceans. To counter, Morrison plans to announce that Australia will renew its focus on the Pacific, primarily thro
To counter China, Australia plans $1.5 billion Pacific infrastructure fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: brendon thorne, bloomberg, getty images
Keywords: news, cnbc, companies, 15, morrison, develop, fund, relations, infrastructure, billion, pacific, countries, australia, china, counter, plans


To counter China, Australia plans $1.5 billion Pacific infrastructure fund

Australia will create a A$2 billion ($1.46 billion) fund to provide loans to Pacific nations to build infrastructure, Prime Minister Scott Morrison is expected to announce on Thursday, as Canberra seeks to counter China’s influence in the region.

Australia and China have been vying for influence in sparsely populated Pacific island countries that control vast swathes of resource-rich oceans.

China has spent $1.3 billion on confessional loans and gifts since 2011 to become the Pacific’s second-largest donor after Australia, stoking concern in the West that several tiny nations could end up overburdened and in debt to Beijing.

To counter, Morrison plans to announce that Australia will renew its focus on the Pacific, primarily through a new infrastructure fund.

“This $2 billion infrastructure initiative will significantly boost Australia’s support for infrastructure development in Pacific countries and Timor Leste,” according to a speech Morrison is due to deliver in the state of Queensland and seen by Reuters.

“It will invest in essential infrastructure such as telecommunications, energy, transport, water, and it will stretch our aid dollars further.”

Foreign policy analysts say Australia’s new infrastructure fund will test Australia’s already cool relations with China, its largest trading partner.

“This announcement will be a gauge of whether Australia can improve relations with Beijing while doing things that would have previously annoyed China,” said Nick Bisley, professor of international relations at Melbourne’s La Trobe University.

Ties between the two countries have been strained since Australia accused China of meddling in its domestic affairs late last year.

Australia’s Foreign Minister Marise Payne will on Thursday meet her Chinese counterpart in Beijing, the first visit by a senior Canberra in two years after bilateral relations soured.

Australia has already this year pledged to develop several infrastructure projects in the Pacific but it has been forced to raid its aid budget to fund the projects.

In May, Australia said it would spend about A$200 million to develop an undersea internet cables to Papua New Guinea (PNG) and the Solomon Islands amid national security concerns about China’s Huawei Technologies.

Earlier this month, Australia said it would help PNG develop a naval base, beating out China as a possible partner for the port development.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: brendon thorne, bloomberg, getty images
Keywords: news, cnbc, companies, 15, morrison, develop, fund, relations, infrastructure, billion, pacific, countries, australia, china, counter, plans


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Ray LaHood to Trump: Raise federal gas tax to pay for infrastructure

Newly energized Democrats are ready to pass a “pretty big, bold bill” and help pay for it by raising the federal gasoline tax for the first time in 25 years, LaHood said. The federal gas tax has been 18.4 cents, 24.4 cents for diesel, since it was last raised in 1993. “If you raise the gas tax 10 cents a gallon, you get billions of dollars. Back in February, there were reports that Trump was signaling a willingness to consider a federal gas tax hike to bolster the cash-strapped Highway Trust Fun


Newly energized Democrats are ready to pass a “pretty big, bold bill” and help pay for it by raising the federal gasoline tax for the first time in 25 years, LaHood said. The federal gas tax has been 18.4 cents, 24.4 cents for diesel, since it was last raised in 1993. “If you raise the gas tax 10 cents a gallon, you get billions of dollars. Back in February, there were reports that Trump was signaling a willingness to consider a federal gas tax hike to bolster the cash-strapped Highway Trust Fun
Ray LaHood to Trump: Raise federal gas tax to pay for infrastructure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: matthew j belvedere, jim watson, afp, getty images
Keywords: news, cnbc, companies, pay, tax, start, trust, states, infrastructure, white, cents, lahood, trump, federal, ray, gas, raise


Ray LaHood to Trump: Raise federal gas tax to pay for infrastructure

In a postelection news conference Wednesday, the president said he and Democrats “have a lot of things in common on infrastructure.” Ever since launching his White House bid, the real estate billionaire had lambasted what he’s categorized as “horrible infrastructure problems” throughout the United States.

Newly energized Democrats are ready to pass a “pretty big, bold bill” and help pay for it by raising the federal gasoline tax for the first time in 25 years, LaHood said. The federal gas tax has been 18.4 cents, 24.4 cents for diesel, since it was last raised in 1993.

“If you raise the gas tax 10 cents a gallon, you get billions of dollars. That’s a very, very good start,” said LaHood, currently co-chairman of the Building America’s Future coalition, which pushes for a new era in infrastructure investment. “It sends a message to the states that the federal government is serious about getting back into being a good partner.”

“We need to start somewhere,” he added. “You know America is one big pothole.”

Back in February, there were reports that Trump was signaling a willingness to consider a federal gas tax hike to bolster the cash-strapped Highway Trust Fund. The president’s possible flexibility on the matter came shortly after the White House unveiled its long-promised infrastructure plan, which eventually went nowhere.

The administration at the time proposed a $1.5 trillion plan to fix the nation’s aging infrastructure by putting up $200 billion in federal funding over 10 years. The proposal capped federal funding at 20 percent for any given project, leaving cities and states responsible for raising the rest.

“That’s not going to work,” LaHood said. “Why not replenish the Highway Trust Fund? Raise the gas tax, and go back to back to the formula of 80-20 because the states have no money.”


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: matthew j belvedere, jim watson, afp, getty images
Keywords: news, cnbc, companies, pay, tax, start, trust, states, infrastructure, white, cents, lahood, trump, federal, ray, gas, raise


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Ray LaHood to Trump: Raise federal gas tax to pay for infrastructure

Newly energized Democrats are ready to pass a “pretty big, bold bill” and help pay for it by raising the federal gasoline tax for the first time in 25 years, LaHood said. The federal gas tax has been 18.4 cents, 24.4 cents for diesel, since it was last raised in 1993. “If you raise the gas tax 10 cents a gallon, you get billions of dollars. Back in February, there were reports that Trump was signaling a willingness to consider a federal gas tax hike to bolster the cash-strapped Highway Trust Fun


Newly energized Democrats are ready to pass a “pretty big, bold bill” and help pay for it by raising the federal gasoline tax for the first time in 25 years, LaHood said. The federal gas tax has been 18.4 cents, 24.4 cents for diesel, since it was last raised in 1993. “If you raise the gas tax 10 cents a gallon, you get billions of dollars. Back in February, there were reports that Trump was signaling a willingness to consider a federal gas tax hike to bolster the cash-strapped Highway Trust Fun
Ray LaHood to Trump: Raise federal gas tax to pay for infrastructure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: matthew j belvedere, jim watson, afp, getty images
Keywords: news, cnbc, companies, gas, raise, cents, start, trump, tax, pay, lahood, infrastructure, white, states, trust, federal, ray


Ray LaHood to Trump: Raise federal gas tax to pay for infrastructure

In a postelection news conference Wednesday, the president said he and Democrats “have a lot of things in common on infrastructure.” Ever since launching his White House bid, the real estate billionaire had lambasted what he’s categorized as “horrible infrastructure problems” throughout the United States.

Newly energized Democrats are ready to pass a “pretty big, bold bill” and help pay for it by raising the federal gasoline tax for the first time in 25 years, LaHood said. The federal gas tax has been 18.4 cents, 24.4 cents for diesel, since it was last raised in 1993.

“If you raise the gas tax 10 cents a gallon, you get billions of dollars. That’s a very, very good start,” said LaHood, currently co-chairman of the Building America’s Future coalition, which pushes for a new era in infrastructure investment. “It sends a message to the states that the federal government is serious about getting back into being a good partner.”

“We need to start somewhere,” he added. “You know America is one big pothole.”

Back in February, there were reports that Trump was signaling a willingness to consider a federal gas tax hike to bolster the cash-strapped Highway Trust Fund. The president’s possible flexibility on the matter came shortly after the White House unveiled its long-promised infrastructure plan, which eventually went nowhere.

The administration at the time proposed a $1.5 trillion plan to fix the nation’s aging infrastructure by putting up $200 billion in federal funding over 10 years. The proposal capped federal funding at 20 percent for any given project, leaving cities and states responsible for raising the rest.

“That’s not going to work,” LaHood said. “Why not replenish the Highway Trust Fund? Raise the gas tax, and go back to back to the formula of 80-20 because the states have no money.”


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: matthew j belvedere, jim watson, afp, getty images
Keywords: news, cnbc, companies, gas, raise, cents, start, trump, tax, pay, lahood, infrastructure, white, states, trust, federal, ray


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tax cuts have been controversial, but voters didn’t seem to care about them

The tax question will be coming up again when the new Congress takes over in January. Trump and the GOP leadership have tossed out the possibility of a “Tax Cut 2.0” proposal that would more closely target middle-income families. Phillips said House Democrats may want to adjust the tax cuts already in place toward lower-income earners, and even could look at repealing the corporate tax rate decrease. “But, even if cross-party agreement can be reached, infrastructure spending carries a long lifes


The tax question will be coming up again when the new Congress takes over in January. Trump and the GOP leadership have tossed out the possibility of a “Tax Cut 2.0” proposal that would more closely target middle-income families. Phillips said House Democrats may want to adjust the tax cuts already in place toward lower-income earners, and even could look at repealing the corporate tax rate decrease. “But, even if cross-party agreement can be reached, infrastructure spending carries a long lifes
Tax cuts have been controversial, but voters didn’t seem to care about them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: jeff cox, caleb kenna
Keywords: news, cnbc, companies, voters, plans, care, controversial, infrastructure, likely, cuts, spending, growth, democrats, seen, tax, didnt, trumps, remain


Tax cuts have been controversial, but voters didn't seem to care about them

Views on overall household finances also split along party lines, with 69 percent saying they had seen no change over the past two years. Just 21 percent of Democrats noted improvement against 77 percent of Republicans. That conflicts with findings from Evercore ISI, which said this week that research shows the average household has seen a $363 monthly gain in disposal income this year, $85 of which has come from reductions in income tax withholding.

The tax question will be coming up again when the new Congress takes over in January.

Trump and the GOP leadership have tossed out the possibility of a “Tax Cut 2.0” proposal that would more closely target middle-income families. Democrats, though, are likely to balk and instead look at ways to plug the widening deficit, with any future big spending plans aimed at infrastructure rather than taxes.

“We expect no major tax legislation to become law under a divided Congress,” Alec Phillips, an economist at Goldman Sachs, said in a note. “Our projections of the growth impulse from fiscal policy assume no substantial tax changes will be enacted over the next few years, and the election result should not change this assumption.”

Phillips said House Democrats may want to adjust the tax cuts already in place toward lower-income earners, and even could look at repealing the corporate tax rate decrease. Those plans, though, likely would die in the Senate, which remains in Republican control.

Infrastructure, on the other hand, represents some common ground between Trump and the expected Democratic leadership. Spending on roads, bridges and transportation and other public works projects “over time can boost U.S. productivity growth, thus managing a smoother transition from the current tax-cuts fueled expansion to a more sustainable pace of growth in the years ahead,” said Lena Komileva, chief economist at G+ Economics.

“But, even if cross-party agreement can be reached, infrastructure spending carries a long lifespan from planning to return on investment,” she added.

Even if the two sides can hammer out an aggressive infrastructure bill, which would be the final step in Trump’s three-pronged approach that also includes lower taxes and less regulation, the earlier steps taken likely will remain largely untouched, according to the initial unofficial consensus following the midterms.

“Donald Trump’s economic policies will remain intact,” said Greg Valliere, chief global strategist at Horizon Investments. “He won’t get new initiatives passed in the House, but Trump’s tax cuts and deregulation are good for at least another two years.”

WATCH: Here’s what voters really cared about.


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: jeff cox, caleb kenna
Keywords: news, cnbc, companies, voters, plans, care, controversial, infrastructure, likely, cuts, spending, growth, democrats, seen, tax, didnt, trumps, remain


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The stock market winners and losers from the midterm election results

There will be winners and losers in the stock market following Republicans and Democrats splitting Congress in the 2018 midterm elections. Industrial and materials stocks could be among the best performers on speculation politicians can broker an infrastructure deal. Drug stocks could come under pressure on a bipartisan plan to rein in drug prices. A check on trade tensions: Good for stocksWith Democrats controlling the lower chamber of a split government, Trump could be forced to soften his agg


There will be winners and losers in the stock market following Republicans and Democrats splitting Congress in the 2018 midterm elections. Industrial and materials stocks could be among the best performers on speculation politicians can broker an infrastructure deal. Drug stocks could come under pressure on a bipartisan plan to rein in drug prices. A check on trade tensions: Good for stocksWith Democrats controlling the lower chamber of a split government, Trump could be forced to soften his agg
The stock market winners and losers from the midterm election results Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: thomas franck, samuel antonio, getty images
Keywords: news, cnbc, companies, market, democrats, infrastructure, republicans, midterm, stocks, results, policy, wrote, trump, winners, stock, president, election, losers, tensions, trade


The stock market winners and losers from the midterm election results

There will be winners and losers in the stock market following Republicans and Democrats splitting Congress in the 2018 midterm elections.

The big winner could be the stock market overall as a hamstrung government leaves in place much of what President Donald Trump has accomplished, but also keeps in check on some of his more extreme actions like trade battles.

Industrial and materials stocks could be among the best performers on speculation politicians can broker an infrastructure deal. Drug stocks could come under pressure on a bipartisan plan to rein in drug prices.

A check on trade tensions: Good for stocks

With Democrats controlling the lower chamber of a split government, Trump could be forced to soften his aggressive trade strategy with China. The trade war between the two nations has roiled markets and often left investors on edge about the future between the world’s two largest economic powerhouses.

“Our base case of the Democrats taking over the House holds the potential to reduce downside risks from trade policy friction,” Deutsche Bank’s chief equity strategist Binky Chadha wrote last week. “Congressional investigations and potential impeachment proceedings, even though nominal, would likely use up significant bandwidth while a growing number of Democrats and even Republicans are likely to attempt reducing Presidential power in dealing with trade.”

A reduction in trade tensions between Washington and Beijing allows the market to refocus on strong U.S. growth, Chadha added, as well as ease pressure on global growth and lead to a “stronger eventual rally.”

The White House imposed tariffs of 10 percent on $200 billion of Chinese products in September, with the rate set to increase to 25 percent by the end of the year unless the countries can reach a breakthrough in the trade talks. In response, Beijing said it would impose taxes on 5,207 U.S. imports worth about $60 billion.

The two nations had already imposed tariffs on $50 billion of each other’s goods before the September sanctions.

Dan Clifton, head of policy research at Strategas Research, said Trump will now start looking ahead to his own re-election and continue to seek policies to help the economy.

“I think it starts at the G-20 meeting with China,” Clifton said. “It looks like the president could do something big on trade.”

Bipartisan support for infrastructure: Upside for materials, industrials, energy

Though Republicans and Democrats disagree on a wide variety of policy proposals, members of both parties have been supportive of infrastructure reform. Any progress on that front could be profitable for companies exposed to public work projects, such as machinery manufacturers, steel producers and oil and gas providers.

“The Democrats are likely to push plans for large-scale infrastructure spending. Republicans have generally opposed Democratic plans on this issue, but President Trump has expressed support for infrastructure spending and might be willing to help,” HSBC chief U.S. economist Kevin Logan wrote in a note in October.

Shares of major steel manufacturer Nucor rose 0.1 percent in overnight trading; United Technologies rose slightly in extended hours while industrial conglomerate Honeywell added 0.1 percent.

Materials, industrials and energy stocks “could benefit from a small infrastructure bill under Democrats, a weaker U.S. Dollar and reduced trade tensions,” Bank of America Chief Equity Strategist Savita Subramanian wrote in September.


Company: cnbc, Activity: cnbc, Date: 2018-11-06  Authors: thomas franck, samuel antonio, getty images
Keywords: news, cnbc, companies, market, democrats, infrastructure, republicans, midterm, stocks, results, policy, wrote, trump, winners, stock, president, election, losers, tensions, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post