Archive for John Carney

Trump Says AT&T-Time Warner Merger Is ‘Not Good for the Country’

US President Donald Trump speaks to the press before departing from the south lawn of the White House
"Personally, I always felt that was a deal that's not good for the country," Donald Trump said of the AT&T merger with Time Warner.

Trump Says AT&T-Time Warner Merger Is ‘Not Good for the Country’

US President Donald Trump speaks to the press before departing from the south lawn of the White House
"Personally, I always felt that was a deal that's not good for the country," Donald Trump said of the AT&T merger with Time Warner.

Five Things to Know About the Trump Administration’s Case Against AT&T


The Department of Justice filed a lawsuit Monday to block the merger of telecommunications giant AT&T with Time Warner, the owner of HBO and CNN. Here are the key takeaways.

The Trump Era of Antitrust Enforcement Dawns

AP Photo
The lawsuit to block the AT&T merger with Time Warner signals the start of an era of antitrust enforcement instead of regulation.

Trump Officials Signal Obamacare Individual Mandate Could Survive Tax Reform

Mick Mulvaney
Top Trump administration officials indicated that while the president still backs repealing the Obamacare individual mandate, the administration would accept a tax reform package that left the mandate in place.

Trump Officials Signal Obamacare Individual Mandate Could Survive Tax Reform

Mick Mulvaney
Top Trump administration officials indicated that while the president still backs repealing the Obamacare individual mandate, the administration would accept a tax reform package that left the mandate in place.

How the Senate Can Overcome Three Obstacles to Tax Reform

Dark Capitol (Mark Wilson / Getty)
The big challenges facing the Senate tax bill: winning over the deficit hawks, healthcare worriers, and small business advocates.

Say What? Official Tax Scoring Committee Claims Killing Individual Mandate is a Tax Hike

AP Photo
When is a tax cut considered a tax hike? When you work for Congress's official tax scorekeepers apparently.

Tom Cotton’s Genius Move to Repeal Obamacare’s Individual Mandate

Sen. Tom Cotton
Senator Tom Cotton deserves credit for bringing Republicans around to a daring, controversial, and politically brilliant idea: repealing Obamacare's individual mandate through the Republican tax overhaul.

Reality Check: There’s No Such Thing as a Temporary Tax Cut

The Capitol is seen at dawn as the Republican-controlled Congress prepares for a hectic week unveiling and promoting its tax-cutting plan, in Washington, Monday, Oct. 30, 2017. (AP Photo/J. Scott Applewhite)
History teaches a very clear lesson on taxes: there is no such thing as either a permanent or a temporary tax cut.

Wall Street Wants to Block a Massive Tax Simplification in GOP Tax Bill

AP Photo
Wall Street fund managers are fighting back against a provision meant to make calculating gains from investing simpler for most taxpayers.

More Winning: Latest Senate Tax Bill Raises Child Tax Credit, Ends Obamacare Individual Mandate


Raising the child tax credit to $2,000 and eliminating the individual mandate makes this a tax bill populist conservatives can support.

Democrats Grill Sessions Over Rejection of AT&T-Time Warner Merger Democrats Urged Him to Reject

Jeff Sessions
Democrats sought answers from Jeff Sessions about conspiracy theory allegations regarding the AT&T-Time Warner Merger.

Senate Republican Tax Bill Will Repeal Obamacare’s Individual Mandate


Senate Republicans will add the repeal of Obamacare's individual mandate to the tax bill.

Just Seven Percent of Economists Say NAFTA Exit Would Trigger a Recession

Canadian Prime Minister Justin Trudeau will meet US President Donald Trump at the White House on October 11, 2017, with negotiations on the NAFTA underway nearby in the Washington suburb of Arlington, Virginia
Very few economists think the economic consequences of leaving NAFTA would involve the U.S. entering a recession.

Rand Paul Says He Will Propose Individual-Mandate Repeal

Rand Paul
Rand Paul Tuesday took up President Donald Trump's challenge to Republicans to include the repeal of the Obamacare individual-mandate in their tax overhaul legislation.

Trump Calls for Tax Reform to End Individual Mandate

AP Photo
President Donald Trump on Monday added new complications to tax reform efforts underway on Capitol Hill.

Why the Department of Justice Put the Brakes on the AT&T-Time Warner Merger


Critics of the proposed AT&T merger with Time Warner were joined by an unexpected ally this week: the government of the United States.

Senate Tax Plan Keeps Much Higher Rate on Small Businesses, Lower Rate for Top Earners

The Capitol is seen at dawn as the Republican-controlled Congress prepares for a hectic week unveiling and promoting its tax-cutting plan, in Washington, Monday, Oct. 30, 2017. (AP Photo/J. Scott Applewhite)
The Senate tax reform bill differs in many important ways from the House bill, including the size of child tax credits and mortgage deductions.

Senate Tax Plan Keeps Much Higher Rate on Small Businesses, Lower Rate for Top Earners

The Capitol is seen at dawn as the Republican-controlled Congress prepares for a hectic week unveiling and promoting its tax-cutting plan, in Washington, Monday, Oct. 30, 2017. (AP Photo/J. Scott Applewhite)
The Senate tax reform bill differs in many important ways from the House bill, including the size of child tax credits and mortgage deductions.

Stocks Slump on News Senate Plan Delays Tax Cuts Until 2019


The stock market is the closest thing America has to an instant gauge on economic news. Even if it is an often fickle judge, the stock market bears watching when economically relevant news breaks.

Bannon Backs New Limits on Carried Interest to Spur Long-Term Investment in Companies


Steven Bannon is backing a House proposal to limit the ability of hedge fund and private equity managers to take advantage of the carried-interest tax break.

All the Experts Who Told Us Stocks Would Crash if Trump Won


The wise men all said the market would crash and the economy tank if Trump won the election. They couldn't have been more wrong.

Report: U.S. Demands AT&T, Time Warner Dump CNN for Merger Approval


The Justice Department has made several demands of AT&T and Time Warner to win its approval of their merger.

CBO Says House Tax Bill Will Add $1.7 Trillion in Deficits

tax
The Republican tax bill under consideration on Capitol Hill would add $1.7 trillion to budget deficits over the next decade, the Congressional Budget Office said.

Snap Flunks Its Third Quarter Earnings Test

Snapchat co-founders Bobby Murphy, left, and Evan Spiegel, chief executive officer of Snap Inc., at the New York Stock Exchange on March 2. Snap shares have recently fallen below their IPO price on weak growth forecasts
Another quarter, another huge disappointment from the makers of Snapchat. Shares of Snap fell by 20 percent in after-hours trading.

WSJ: China Works on Trump Through Jared Kushner and Ivanka

Ivanka Trump, Jared Kushner
America's Asian allies are nervous that President Donald Trump could strike some kind of bargain with China that will strengthen China's power in the region.

Dow’s Rally from Trump’s Election Breaks Postwar Records

AP Photo
As America approaches the one-year anniversary of the election of Donald Trump, the Dow Jones Industrial Average is on target to book its best annual performance under a first-term president when measured from Election Day.

Forbes Says Wilbur Ross Lied About Being a Billionaire

US Commerce Secretary Wilbur Ross said he was optimistic because of the relationship that has developed between Donald Trump and Xi Jinping
Forbes claims Commerce Secretary Wilbur Ross has been lying about being a billionaire for over a decade.

GOP Tax Plan Imposes a Big Tax on the Big Banks

AP Photo
While the Republican tax bill unveiled Thursday is undoubtedly business-friendly, there is one set of American companies that come in for a new and costly tax: the big banks.

U.S. Created 261,000 Jobs in October, Fewer Than Expected

jobs rise
There were both treats and tricks in the October jobs report, according to the Bureau of Labor Statistics' monthly check.

Trump Nominates Jerome Powell to Chair Federal Reserve

Jerome Powell
Powell will be the first non-economist to run the central bank in generations.

Republican Tax Plan Cuts Middle Class and Corporate Taxes, Leaves Retirement Savings Safe

AP Photo
House Republicans are unveiling their bill to overhaul the U.S. tax code Thursday. We’ll follow along with the news and analysis of the bill all day. Refresh this page for the latest updates. Here are the highlights: The House bill reportedly will permanently and immediately cut the corporate tax rate from 35 percent to 20 percent. Lawmakers dropped earlier plans to phase-in the tax cut over a number of years or have the cut sunset in the future, both measures aimed at reducing–on paper, at least–their impact on long-term budget deficits. As first reported by Breitbart in August, the bill will impose a one-time tax on corporate profits that have been accumulated and held abroad. By taxing these profits at 12 percent on a one-time basis, the bill eliminates the incentive for corporations to continue to avoid repatriating the funds and investing them in America or distributing them to shareholders. The risky plan to change the way Americans save for retirement, and possibly raise taxes on middle-income Americans, has been dropped. The bill will not change 401(k)s, according to talking points distributed by the House GOP leadership. The bill is named the Tax Cuts and Jobs Act, breaking with recent

Trump Will Tap Jerome Powell to Run Federal Reserve

Jerome Powell, Jerome "Jay" Powell
Powell is an establishment Republican who supports the president's dergulatory agenda and takes a dovish position on monetary policy.

Kevin Brady’s Plan To Push People Out of 401(K)s Puts Middle Class Savings at Risk of Future Tax Hikes

In this Sept. 26, 2017 photo, Rep. Kevin Brady, R-Texas, right, listens as President Donald Trump speaks during a meeting with members of the House Ways and Means committee in the Roosevelt Room of the White House in Washington. Brady says he’s discussing the 401(k) issue with President Donald Trump, who earlier this week shot down the possibility of changes to the popular savings program. (AP Photo/Evan Vucci)
"Only an idiot would trust the government's promise not to tax these things again," Trump campaign economic adviser Stephen Moore said.

Here’s What We Think We Know About the GOP Tax Bill

AP Photo
House Republicans delayed the release of their tax bill Tuesday night, a sign that the GOP leaders still have not resolved disputes between its members over tax breakers and how to pay for tax cuts.

In Nixing Ivanka Trump’s China Trip, White House Avoids Reigniting Controversy Over Conflicts

Ivanka Trump
Ivanka Trump and husband Jared Kushner's ties to China and Japan have been a repeated source of criticism of the administration.

Big Tech Trembles as Bannon Denounces ‘Lords of Silicon Valley’

Steve Bannon
"Silicon Valley is the new Wall Street," a Bannon ally says.

Carney: The Trump Economy Keeps Humiliating His Critics

CLEVELAND, OH - JULY 21: Republican presidential candidate Donald Trump gives two thumbs up to the crowd during the evening session on the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio. Republican presidential candidate Donald Trump received the number of votes needed to secure the party's nomination. An estimated 50,000 people are expected in Cleveland, including hundreds of protesters and members of the media. The four-day Republican National Convention kicked off on July 18. (Photo by Chip Somodevilla/Getty Images)
Third quarter economic growth comes in much higher than expected.

Trump Likely to Choose Powell and Taylor for Top Fed Roles

The US Federal Reserve said recent hurricanes are "inflicting severe hardship" but that the economic impact will likely only be short-term
President Donald Trump is leaning toward appointing both Standford University economist John Taylor and former investment Jerome "Jay" Powell to top positions at the Federal Reserve, according to people familiar with the president's thinking.
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