Tax Plan Would Aid Wealthiest

Wednesday, April 26, 2017Screen Shot 2017-04-27 at 10.22.22

Good Thursday morning, 
Here are some of the stories making news in Washington and politics today:
  • President Trump proposed sharp reductions in both individual and corporate income tax rates, reducing the number of individual income tax brackets to three. The plan also called for the elimination of most itemized tax deductions. See the seven key elements of the plan, and who stands to win and lose.
  • The White House insists that economic growth will offset its proposed tax cuts, but many economists disagree, creating a moment of truth for conservatives.
  • The House Freedom Caucus, a group of hard-line conservatives who were instrumental in blocking Mr. Trump’s plan to repeal the Affordable Care Act last month, gave its approval to a new, more conservative version. See what changed to win over the conservatives.
  • Jared Kushner, Mr. Trump’s son-in-law and a top adviser, had help building a real estate empire from a member of one of Israel’s wealthiest families.
  • In telephone calls with the president of Mexico and the prime minister of Canada, President Trump said he would quickly start the process of renegotiating Naftanot abandon it.
  • The F.C.C. chairman, Ajit Pai, issued a sweeping plan to loosen rules on internet service providers and said high-speed internet service should no longer be treated like a public utility with strict rules but should largely be left to police itself.
— The First Draft Team
Economic Trends
The Low-Inflation World May Be Sticking Around Longer Than Expected
An oil exploration and production company in Midland, Tex. A glut of oil wells is one reason inflation has stayed stubbornly low.
An oil exploration and production company in Midland, Tex. A glut of oil wells is one reason inflation has stayed stubbornly low. Ilana Panich-Linsman for The New York Times
There is a worldwide glut that includes oil wells, steel plants and eager would-be workers, and it will take more than a United States presidential election and a few months of solid global growth to fix it.
That, in a sentence, is the reality that haunts the world economy a third of the way through 2017.
For years, low inflation across most of the advanced world was part of a vicious cycle featuring onerous debt burdens and low growth. Major central banks struggled to lift inflation to the 2 percent annual rate they aim for.
Finally, after an uptick in oil prices in 2016 and an abrupt shift in sentiment after Donald J. Trump’s election in November, it looked as if the world economy might be getting jolted out of that cycle. Some called it the Trumpflation effect. But it now seems that proclamations of victory were premature, and that the low-inflation world will be with us for at least a while longer.
Read more »
Joseph R. Swedish, the chief executive of the health insurer Anthem, in 2015. He warned that a halt of subsidies to help low-income people “would cause further market instability.”

Anthem Threatens to Leave Health Exchanges if Subsidies Are Halted


The insurer’s earnings beat expectations, but it warned it could withdraw from some marketplaces or raise rates if the government did not continue co-payment subsidies for low-income people.

Adm. Harry B. Harris Jr. testified about security challenges in the western Pacific at a House Armed Services Committee hearing on Wednesday.

Commander Takes Responsibility for Confusion Over Aircraft Carrier


Adm. Harry B. Harris Jr. accepted fault for a broad misunderstanding over whether the Carl Vinson was racing to confront North Korea.

President Trump arriving in West Palm Beach, Fla., this month.

Circling Back to Voters, 100 Days Into Trump Era


No regrets, frustrated, inspired, somewhere in between: Voters who talked with Times reporters around the start of the Trump presidency describe how they feel now.

Donald J. Trump speaking at the Intrepid Sea, Air and Space Museum in Manhattan on Sept. 7, when he was the Republican nominee. He will return there as president on May 4 and meet Prime Minister Malcolm Turnbull of Australia.

New York Braces for Trump’s First Return as President


The commander in chief’s usual security requirements will be complicated by protesters as he meets the Australian prime minister aboard the Intrepid.

Students who belong to the Berkeley College Republicans protested on Wednesday beside a member of an anti-fascist group.

In Ann Coulter’s Speech Battle, Signs That Conservatives Are Emboldened


Conservatives like Ms. Coulter are eagerly throwing themselves into volatile situations on college campuses, inspired by a backlash against political correctness.

At right, John F. Kelly, the head of Homeland Security, with Tom Homan, the acting director Immigration and Customs Enforcement, at a news conference in Washington on Wednesday.

Office to Aid Crime Victims Is Latest Step in Crackdown on Immigrants


The office, known as Voice, is part of the president’s effort to aggressively crack down on illegal immigration. Critics say it vilifies immigrants.

Pete Souza, the official photographer for former President Barack Obama, at an event in Kansas City, Mo., in July 2010.

Obama’s Photographer Gains a New Following, and a Book Deal


Pete Souza, who has over one million Instagram followers, has drawn attention for applying his Obama-era photographic commentary to life in President Trump’s White House.

Former President Barack Obama spoke during an event at the University of Chicago on Monday.

Obama Balances Civic-Minded Side With the Lure of a $400,000 Speech


The former president will be paid handsomely to speak at a health care conference run by the Wall Street investment firm Cantor Fitzgerald.

Ivanka Trump at the Holocaust Memorial in Berlin on Tuesday. In an interview aired on Wednesday, Ms. Trump said the United States might need to admit more Syrian refugees.

Ivanka Trump Parts Ways With Her Father on Syrian Refugees


In a pointed departure from one of the president’s bedrock populist positions, Ms. Trump said the United States might need to admit more refugees.

Secretary of Education Betsy DeVos at the White House on Wednesday. She has a mandate to review education guidelines.

Trump Orders Review of Education Policies to Strengthen Local Control


The review aims to ensure local leaders will have final say “about what happens in the classroom,” said Rob Goad, a senior Education Department official.

Marine recruits in line during boot camp on Parris Island, S.C., in 2013. An outdated New York Times article is being shared on social media to suggest that women are required to register for the draft.

Do Women Have to Register for the Draft? No. But Misinformation Spreads.


An old New York Times story about a failed amendment is being shared on social media, leading some readers to believe women are included in the draft.

New citizens being sworn in during the final naturalization ceremony of the Obama administration at the Anacostia Community Museum, in Washington, in early January.

Justices Alarmed by Government’s Hard-Line Stance in Citizenship Case


The Justice Department argued that lies, even trivial ones, in naturalization proceedings should allow the government to revoke someone’s citizenship.

The aircraft carrier Carl Vinson in the Philippine Sea on Wed<span data-macro=”discretionary_hyphen” data-mce-contenteditable=”false”></span>nesday. President Trump recently deployed it near North Korea.

The Drumbeats Don’t Add Up to Imminent War With North Korea


The president views North Korea as his chief foreign policy issue, but he says he is pursuing a strategy that relies primarily on help from China.

President Trump arrived for a meeting in the Roosevelt Room on Tuesday.

Defiant Trump Vows to Take Immigration Case to Supreme Court


The president deplored “ridiculous rulings” from California judges after a federal court blocked his action against so-called sanctuary cities.

Right and Left: Partisan Writing You Shouldn’t Miss
Read about how the other side thinks. We have collected political writing from around the web and across ideologies.
From the Right
• Ramesh Ponnuru in National Review:
“Conservatives lost touch with their nationalism in part because of an exaggerated philosophical discomfort with it.”
The writers at National Review have held a protracted debate about the role of nationalism in contemporary conservative thought, particularly the way the term is compared with the notion of “patriotism.” Ramesh Ponnuru, who wrote a defense of nationalism for the magazine’s cover story, explains the rift among his colleagues and explores the word’s semantic nuances. Read more »
From the Left
• Tom Heberlein in Vox:
“Swedish taxes are easy to pay, rational, and efficient. Best of all, rather than take away opportunities, Swedish taxes expand them.”
Tom Heberlein divides his time between Sweden and Wisconsin and he is here to tell you that Americans should not be afraid of Swedish taxes. In a short piece for Vox, Mr. Heberlein outlines six reasons he prefers the European tax system. Read more »
More selections »