GOP Massive Tax Cuts Will Lead to Major Deficit and Debt
2017-11-02 21:24:00 UTC
WASHINGTON (Reuters) - U.S. House of Representatives Republicans unveiled long-delayed legislation on Thursday to deliver deep tax cuts that President Donald Trump has promised.
The bill, representing what would be the largest overhaul of the U.S. tax system since the 1980s, called for slashing the corporate tax rate to 20 percent f...
EU Reaffirms Full Commitment to the Iran Nuclear Deal
2017-10-19 23:53:02 UTC
BRUSSELS (Reuters) - European Union leaders on Thursday reaffirmed their full commitment to the 2015 nuclear deal between Iran and world powers, hoping that the U.S. Congress would not let it collapse despite relentless criticism by President Donald Trump.
But the bloc, reluctant to isolate itself completely from Washington, is also...
Trump's Tax Plan Will add Trillions of Dollars to the Debt
2017-09-28 06:48:39 UTC
WASHINGTON (Reuters) - President Donald Trump proposed on Wednesday the biggest U.S. tax overhaul in three decades, calling for tax cuts for most Americans, but prompting criticism that the plan favors business and the rich and could add trillions of dollars to the deficit.
The proposal drew a swift, skeptical response from Senator ...
Emmanuel Macron Sets Out Progressive Vision For EU
2017-09-26 16:47:29 UTC
PARIS (Reuters) - French President Emmanuel Macron offered a sweeping vision for a renewal of Europe on Tuesday, calling for the EU to cooperate more closely on defense, immigration, tax and social policy, and for the single currency bloc to have its own budget.
In a speech delivered two days after the German election in which Chanc...
Brexit: 10,000 finance jobs will be shifted out of Britain
2017-09-18 14:51:50 UTC
LONDON (Reuters) - Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of workers in international finance.
Frankfurt was by far the most popular destination for the new role...
Elizabeth Warren launches investigation into Equifax breach
2017-09-16 02:48:20 UTC
WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren said on Friday she has begun an investigation into Equifax’s massive data breach, and along with 11 other Democratic senators, introduced a bill to allow consumers to freeze their credit for free.
Equifax came under increased pressure from lawmakers and U.S. states on Friday, whil...
Medicare for All is New Litmus Test for Democratic Presidential Hopefuls
2017-09-13 14:12:46 UTC
Medicare for All is becoming the new litmus test for Democratic presidential hopefuls.Cory Booker became the fifth Democratic senator to co-sponsor Bernie Sanders’s Medicare for All bill on Monday afternoon. It’s a shift for Booker, who recently told Vox’s Jeff Stein that single-payer is merely “one of those options that...
Turkey appears to be building a military infrastructure independent of NATO
2017-09-12 20:19:26 UTC
Turkey has risked the anger of the United States and its fellow NATO members by signing a contract with Russia to buy a missile defense system.
Turkish President Recep Tayyip Erdogan told Turkish media on Tuesday that Ankara had put down a deposit on the Russian-made S-400 missile batteries, a system that can - according to the manu...
Trump Tweets: 'start the Tax Reform/Tax Cut legislation ASAP'
2017-09-08 17:38:35 UTC
WASHINGTON (Reuters) - U.S. President Donald Trump urged fellow Republicans on Friday to begin work on tax reform legislation immediately, exhorting them to hurry up after two days in which he stunned members of his party with overtures to opposition Democrats.
“Republicans must start the Tax Reform/Tax Cut legislation ASAP. Don’t w...
Ryan and Mnuchin See U.S Tax Overhaul by End of Year
2017-09-07 17:05:19 UTC
Doina Chiacu, Susan Heavey
WASHINGTON (Reuters) - Treasury Secretary Steven Mnuchin and House of Representatives Speaker Paul Ryan voiced confidence on Thursday that Congress will pass an overhaul of the U.S. tax code by the end of this year, a major but elusive goal for President Donald Trump and his fellow Republicans.
Elizabeth Warren backs Medicare for All
2017-09-07 16:49:43 UTC
Elizabeth Warren backs Medicare for All. Bernie Sanders has not yet introduced his Medicare for All bill in the Senate, but on Thursday morning it gained an important supporter in Warren. In a statement, Warren said she based her decision on her constituents’ needs and added:
I believe it’s time to take a step back and ask: what is th...
Macron backs Germany’s idea of a European Monetary Fund to counter economic shocks
2017-09-07 17:57:39 UTC
ATHENS (Reuters) - French President Emmanuel Macron on Thursday backed Germany’s idea of a European Monetary Fund (EMF) to counter economic shocks in euro zone member states but stressed the ultimate goal of deeper integration should remain a euro zone budget.
Macron wants a giant leap forward in European cooperation, pushing for th...
White House Supports Raising Debt Ceiling
2017-08-24 20:06:44 UTC
WASHINGTON (Reuters) - The White House said on Thursday it was committed to making sure Congress raises the nation's debt limit even as the president described the looming legislative process as a "mess."
"It's our job to inform Congress of the debt ceiling and it's their job to raise it," White House spokeswoman Sarah Sanders told ...
Bipartisan Policy Center Says U.S. Could Miss Payments on October 2
2017-08-24 18:08:46 UTC
WASHINGTON (Reuters) - The U.S. government might not have enough money to pay all its bills on Oct. 2 if Washington does not raise a cap on federal borrowing, a respected think tank said in a report on Thursday.
The Treasury might not have enough money on that day to make a roughly $80 billion payment that will be due to a military ...
Schumer Says Trump Wall Threat Will Lead to U.S. Government Shutdown
2017-08-23 15:30:20 UTC
WASHINGTON (Reuters) - Senate Democratic leader Chuck Schumer said on Wednesday that President Donald Trump's threat to shut down the government if he does not secure funding for a border wall with Mexico would lead to a shutdown that "nobody will like."
"If the president pursues this path, against the wishes of both Republicans and...
Is Recession Looming? U.S. Household Debt Jumps To A New Record High
2017-08-15 18:10:40 UTC
NEW YORK (Reuters) - Americans' debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card debt, where delinquencies jumped.
Total U.S. household debt was $12.84 trillion in the three months to June, up $5...
Mayor Rahm Emanuel: Chicago will sue the Trump administration
2017-08-06 20:40:09 UTC
CHICAGO/NEW YORK (Reuters) - Chicago will sue the Trump administration on Monday over threats to withhold public safety grant money from so-called sanctuary cities, escalating a pushback against a federal immigration crackdown, Mayor Rahm Emanuel announced on Sunday.
The federal lawsuit comes less than two weeks after Attorney Gener...
How much would the UK be willing to pay to leave the EU?
2017-08-06 04:16:37 UTC
LONDON (Reuters) - Britain is prepared to pay up to 40 billion euros ($47 billion) as part of a deal to leave the European Union, the Sunday Telegraph newspaper reported, citing three unnamed sources familiar with Britain's negotiating strategy.
The European Union has floated a figure of 60 billion euros and wants significant progre...
"Working together to take the UK out of the EU" is falling to Chaos
2017-07-30 04:16:56 UTC
LONDON (Reuters) - An ally of British foreign minister Boris Johnson has criticized the Brexit transition plans of finance minister Philip Hammond, a newspaper said, in the latest sign of tensions within the government over how Britain should leave the European Union.
Gerard Lyons, a former economic adviser to Johnson when he was Lo...
Only 29 percent of Americans want Congress to "continue working on a new healthcare bill"
2017-07-30 03:41:33 UTC
NEW YORK (Reuters) - A majority of Americans are ready to move on from healthcare reform at this point after the U.S. Senate's effort to dismantle Obamacare failed on Friday, according to an exclusive Reuters/Ipsos opinion poll released on Saturday.
Nearly two-thirds of the country wants to either keep or modify the Affordable Care ...
Elizabeth Warren called on Federal Reserve to remove members of Wells Fargo's board
2017-07-29 04:06:47 UTC
WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren called on Federal Reserve Chair Janet Yellen to remove members of Wells Fargo & Co's board after revelations the company improperly charged customers for auto insurance.
In a letter sent Friday to Yellen, Warren, a Democrat, said the recent revelation of more improper charges at t...
Repeal Fails: President Obama’s Health Law Will Stay
2017-07-30 03:51:28 UTC
WASHINGTON (Reuters) - A U.S. Senate led by Donald Trump's fellow Republicans dealt the president a harsh blow on Friday, failing to move ahead with a major campaign promise to dismantle Obamacare as they fell one vote short of passing healthcare legislation.
Three Republican senators - John McCain, Susan Collins and Lisa Murkowski ...
Senate rejects Obamacare repeal again, eyes 'skinny' bill
2017-07-27 05:51:10 UTC
WASHINGTON (Reuters) - Senate Republicans fell short again in their effort to end Obamacare, rejecting a measure to repeal large portions of former President Obama's signature law that has provided health insurance to millions of Americans.
The last-ditch effort came after senators voted 55-45 against a straight repeal of Obamacare,...
Russian cyber criminals: $4 billion bitcoin laundering ring
2017-07-26 17:56:41 UTC
ATHENS/MOSCOW/NEW YORK (Reuters) - A Russian man suspected of being the anonymous mastermind behind one of the world's oldest crypto-currency exchanges and of laundering at least $4 billion has been arrested in Greece, police and sources said on Wednesday.
Police sources identified him as Alexander Vinnik, 38, who was arrested after...
British households' financial situation already deteriorating
2017-07-24 03:04:56 UTC
LONDON - U.S. president Donald Trump announced in June 2016, "I think Brexit is going to end up being a great thing."
Just one year after the Brexit vote, British people are more pessimistic and worried about their uncertain future.
UK households' financial situation has deteriorated at the fastest rate in three years this month...